China’s exports and imports posted unexpected gains in June despite delays and massive disruptions. This could be a sign of recovery from the economic downturn caused by delays at the Yantian port.
On Tuesday, China’s General Administration of Customs released data showing that Chinese exports increased 32 percent from last year in dollar terms, even more than the 28 percent gain recorded in May. This exceeded the expectations of economists, who predicted a slowdown in growth due to restrictions in southern China. However, Beijing still believes that the global macroeconomic situation is very unstable. Assistant Commerce Secretary Ren Hongbin said Monday that the ministry will redouble its efforts to stabilize trade and foreign investment.
Shipping magazine Odesa