BEIJING: China’s exports and imports returned to growth in April after contracting in the previous month, customs data showed on Thursday, signalling an encouraging improvement in demand at home and overseas in a boost to a shaky economic recovery.
The data suggests a flurry of policy support measures over the past several months is gaining traction and helping to stabilise fragile investor and consumer confidence.
Shipments from China grew 1.5% year-on-year last month, in line with the increase forecast in a Reuters poll of economists.
They fell 7.5% in March, which marked the first contraction since November. Imports for April increased 8.4%, beating an expected 4.8% rise and reversing a 1.9% fall in March.
“Exports have been the bright spot in China’s economy so far this year. The weak domestic demand led to deflationary pressure, which boosts China’s export competitiveness,” said Zhang Zhiwei, chief economist at Pinpoint Asset Management.
China’s economy grew faster than expected in the first quarter, although data on exports, consumer inflation, producer prices and bank lending for March showed that momentum could be faltering again.
A protracted property crisis is also showing few signs of abating, spurring calls for more policy stimulus.
In the first quarter, both imports and exports rose 1.5% year-on-year.
Furthermore, the recovery in China’s exports and imports underscores the effectiveness of the country’s economic policies and strategic initiatives. Additionally, ongoing efforts to enhance trade relations and expand market access have contributed to the rebound in exports and imports.
As China continues to implement reforms and pursue sustainable development strategies, the outlook for demand recovery remains optimistic. Additionally, investments in technology and innovation can further enhance China’s export capabilities and promote sustainable growth in the long term. By addressing these challenges and seizing opportunities, China can solidify its position as a global economic powerhouse.
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