With China’s foreign trade takes downhill. As the customs authorities in Beijing announced that the exports decreased in February compared to the same month last year by 20.6 percent – as much as for seven years no longer. Imports also declined again with a loss of around eight percent.
The collapse of China’s foreign trade continues unabated so. Already for over a year is strong stalled China’s trade with the rest of the world. To create makes the exporters of the country especially the ailing global economy, which decreases demand for products from China.
Another problem for Chinese companies are new, effective competitors, especially in Southeast Asia. Because rising labor costs in China, countries can there now produce much cheaper, which is why the second largest economy lost many orders.
The ongoing Beijing Annual Meeting of NPC shows that China with high-pressure working on a solution for its economic problems. Prime Minister Li Keqiang put last weekend the new Five-Year Plan of the country before, which is to put the economy on a new foundation.
Instead of continuing the to be “the world’s factory”, the companies in the country to be innovative. In addition to service by a stronger domestic consumption be stimulated.
After China’s economy last year, with 6.9 percent so slowly no longer grew as 25 years , should be at least another 6.5 percent, according to Premier Li Keqiang in the next five years the average growth.
Experts consider it, however, unlikely that Beijing can achieve this goal, the slowdown of foreign trade should continue at the same pace.
in total figures, China exported in February still goods worth 821.8 billion yuan (114.63 billion euros). The imports were (85.41 billion euros) at 612.3 billion yuan.
Not counted in the domestic currency, the yuan, but in US dollar falls, the trade deficit from even greater. In dollar terms, exports have fallen by 25.3 percent, while imports decreased by 11.2 percent.
Fearing lower corporate profits in the important China business, investors have withdrawn from European stocks on Tuesday. Dax and Euro Stoxx 50 both lost 1.2 percent to 9666 meter and 2986 points. were fueled investors’ fears of disappointing Chinese economic data.
Fears of a decline in demand in the important market of China has added the German car values mainly. Volkswagen, BMW and Daimler lost on Tuesday around 2.5 percent each and were therefore among the weakest DAX stocks.
The minus in imports was higher than expected. “The consumer is not in motion,” said market analyst Heino Ruland from brokerage ICF. “The Beijing government will find it difficult to achieve its growth objectives.” Analysts at Essen National Bank judged: “persist The question marks regarding the future prospects of the Chinese economy.”
dpa / Reuters / N.S.
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