Africa Is Expected To Become A New Growth Point Of China'S Foreign Trade

In the first quarter, China Africa economic and trade cooperation overcame the current external unfavorable factors and maintained a steady and rapid development. We can use the "two high" and "two low" to sum up the current Sino African relations.

Characteristics.

The first "high" is the mechanical and electrical products to stimulate China's rapid growth of non exports.

According to customs statistics, China's exports to Africa increased by 21.8% in the first quarter to 25 billion 240 million US dollars, higher than the national export growth rate of nearly 17 percentage points.

The second "high" is the rapid growth of new contracts for infrastructure cooperation.

In the first quarter, the new contract signed by our enterprises in non engineering contracts amounted to US $23 billion 110 million, an increase of 49.4% over the same period last year, with a total turnover of US $11 billion 700 million, an increase of 23.8% over the same period last year.

The first "low" in "two low" is that the growth rate of non major investment projects is relatively low.

China's non-financial direct investment in Africa was $530 million in the first quarter, down 45.9% from the same period last year.

The second "low" is that the decline in commodity prices has sharply reduced the growth of China's imports from Africa.

according to

China imported $16 billion 500 million from Africa in the first quarter, down 45.8% from the same period last year.

Against the background of the first quarter's foreign trade data in China, the export of electromechanical equipment and infrastructure in Africa

All of them have seen a substantial increase and are very eye-catching.

Over the same period, China's bilateral trade import and export value to the United States, ASEAN and India increased by only 3.2%, 4.5% and 7% respectively, and the bilateral trade import and export value decreased by 2.1% and 11%, respectively.

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According to the data released by China National Business Information Center this month, the number of retail sales of 100 major large-scale retail enterprises in 2014 increased by only 0.4% over the same period last year, slowing down for third consecutive years since 2012.

Among them, clothing retail sales increased by 1% over the same period last year, down 4 percentage points from the same period last year.

Retail sales of clothing decreased by 0.3% compared to the same period last year, 3.7 percentage points lower than the same period last year.

Insiders said that the overall situation of the domestic textile and garment enterprises, the proportion of exports and domestic sales accounted for roughly 50:50, and the RMB appreciation has continued to appreciate for a long time. Indeed, many export enterprises are under heavy pressure.

The depreciation of the RMB against the US dollar is conducive to reducing the cost of textile enterprises, enhancing the competitiveness of products, getting more orders, and on the other hand, is conducive to the exchange earnings.

However, an industry analyst of a brokerage firm told reporters that the depreciation of the RMB against the US dollar is a question. In addition, in the current situation, the depreciation rate is not large, so the positive effect on textile enterprises is very limited.

"Labor, raw materials, capital costs and so on are rising, compared to the extent of depreciation is not great."

The industry analysts also said that the more important thing is that the comprehensive cost of domestic textile enterprises is far higher than that of India, Vietnam and other Southeast Asian and South Asian countries.

Take Vietnam as an example, the footwear industry is now its third largest export industry.

In terms of footwear products, Vietnam Customs Department statistics show that in 2013, Vietnam exported shoes about 10 billion 320 million US dollars, an increase of 18% over the same period last year.

In the first half of 2014, Vietnam exported about 4 billion 600 million US dollars of shoes, an increase of more than 20%.