China'S Foreign Trade Situation Is Still Not Optimistic.

According to the data of the General Administration of Customs in March 8th, the total value of China's imports and exports in February was 1 trillion and 430 billion yuan, down 15.7% from the same period last year.

Among them, exports were 821 billion 800 million yuan and imports were 612 billion 300 million yuan, down by 20.6% and 8% respectively.

In dollar terms, export growth in February dropped by 25.4% over the same period last year, the lowest level since June 2009.

In February, China's foreign trade situation is still not optimistic.

According to the data of the General Administration of Customs in March 8th, the total value of China's imports and exports in February was 1 trillion and 430 billion yuan, down 15.7% from the same period last year.

Among them, exports were 821 billion 800 million yuan and imports were 612 billion 300 million yuan, down by 20.6% and 8% respectively.

In dollar terms, export growth in February dropped by 25.4% over the same period last year, the lowest level since June 2009.

In this regard, Lu Zheng commissar, chief economist of Industrial Bank, told reporters: "the import of China's main export markets has been picking up since the fourth quarter of last year.

This shows that the current export downturn has little to do with external demand.

Bai Ming, deputy director of the international market research department of the Ministry of Commerce, may be going on for some time.

The import and export situation is still weak this year.

Customs statistics show that in the first two months of this year, the total value of China's imports and exports was 3 trillion and 310 billion yuan, down 12.6% from the same period last year.

Of which, exports were 1 trillion and 960 billion yuan, down 13.1% compared to the same period last year; imports were 1 trillion and 350 billion yuan, down 11.8% compared to the same period last year; the trade surplus was 615 billion 900 million yuan, narrowing 15.9%.

For the current foreign trade situation, Bai Ming told reporters directly: "this situation was only seen in the 2008 and 2009 international financial crisis."

Insiders pointed out that because of the early impact of the Spring Festival holiday on the production, inventory and delivery of the enterprises earlier than last year, the reference frame in this year's calculation of the magnitude of the year-on-year change is distorted, and the actual economic performance may not be as bad as the surface data show.

Lu political commissar believes that the volume of exports to all economies in a neat way down, appears to be related to the Spring Festival holiday, but the total import value and the year-on-year decline were 16.7% and 8% respectively.

The decline is narrowed. The Spring Festival can not only affect exports but not import. This shows that the "diving" of exports is not related to the Spring Festival.

In addition, Lu commissar further pointed out to reporters that the import demand of the US, EU and other economies has not deteriorated further since 2014, and the import decline of Russia and India economies has also narrowed recently. This shows that China's export environment has not been further deteriorated. It can be said that the export decline in February exceeded expectations and had little to do with external demand.

It is worth noting that in the analysis report on the characteristics of China's foreign trade in the first two months of this year, the General Administration of Customs specifically mentioned that the export of traditional labor-intensive products such as mechanical and electrical products, textiles and garments decreased.

In the view of Lu commissar, textiles,

Exports of labor-intensive products such as footwear increased significantly, while automatic data processing equipment, integrated circuits and other technology intensive exports were relatively stable. This may mean that the rise of labor costs in China is eroding the competitive advantage of labor-intensive industries.

It is worth mentioning that besides

The impact of the new trade rules, industry standards and so on has also brought challenges to China's steady growth in foreign trade.

In the first two months, China's mechanical and electrical products exported 1 trillion and 110 billion yuan, down 12.2%, accounting for 56.6% of the total export value.

In the same period, clothing exports were 157 billion 50 million yuan, down 11.8%; textiles 100 billion 530 million yuan, down 9.3%; footwear 52 billion 80 million yuan, 17.3%; furniture 51 billion 790 million yuan, 17.8%; plastic products 34 billion 950 million yuan, fell 11%; bag and luggage 25 billion 630 million yuan, decreased 25 billion 630 million; toy yuan yuan, growth;