BEIJING : China's export growth is expected to have slowed to a crawl in April as strict COVID-19 curbs hit production while imports likely extended declines, creating heavy headwinds for the world's second-largest economy in the second quarter.
The uncertainty over the Ukraine war and recovering production capacity overseas also squeezed China's share of global trade. The new export orders component of the official manufacturing purchasing managers' index hit a two-year low in April. Data from the China Port Association showed throughput of foreign goods at eight major container ports in China declined 4.1 per cent year-on-year in the April 11-20 period.
Source: Financial Digest (financialdigest.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Passenger volume at Changi Airport doubled in April to reach 40% of pre-Covid-19 levels
Source: straits_times - 🏆 5. / 69 Read more »
Chinese EV makers post weaker April sales on COVID-related disruptionsSHANGHAI : Three of China's most prominent electric-car makers posted a steep drop in April sales after strict measures to combat COVID-19 disrupted production and deliveries, dampening one of the world's fastest-growing markets for the vehicles. Xpeng Inc, NIO Inc and Li Auto Inc plunged by 41.6 per ce
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Beijing curbs public transport as Covid-19 spreads in ChinaBEIJING/SHANGHAI — The Chinese capital Beijing shut dozens of metro stations and bus routes on Wednesday (May 4) in its campaign to stop the spread of Covid-19 and avoid the fate of Shanghai where millions of residents have been under strict lockdown for more than a month. New evidence has emerged that China's uncompromising battle against the coronavirus, believed to...
Source: asiaonecom - 🏆 10. / 59 Read more »
How to tell when secretive China is abandoning Covid ZeroThey trying to save face now.
Source: STForeignDesk - 🏆 4. / 71 Read more »
China sees spending, travel tumble during COVID-hit Labour Day holidayBEIJING :Chinese travellers spent 43 per cent less over the five-day Labour Day holiday that ended on Wednesday than a year earlier, government data showed, as tightening COVID-19 prevention measures being rolled out across the country hit consumption. The Ministry of Culture and Tourism said on Wednesday tha
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Six signs that will tell us when China is abandoning Covid zeroExperts say Beijing will move gradually to dismantle its rigid zero tolerance policy rather than end all curbs overnight.
Source: YahooSG - 🏆 3. / 71 Read more »