China’s export far from full recovery

(Source: Xinhua, China)

A recent orders increase in many Chinese export-oriented companies combining a slower downward rate in the country’s foreign trade figures added to signs that the dwindling export has scraped bottom amid the shrinking global economy, but analysts were not so optimistic about full recovery in the short term.

They attributed orders increase to temporary seasonal factors, such as Christmas consumption, saying a full-fledged export revival would hinge on a real growth of the world’s economy.

Manufacturers attending the 13th China International Trade and Investment Fair that closed on September 10 in China’s east coastal city Xiamen, Fujian Province, said they had undergone the worst time and were on track for a gradual recovery as overseas orders leaped in recent months.

“Sales in the first half of this year had rebounded to the level a year earlier after the company took orders of 7 million pairs of slippers from Wal-Mart in May,” Zheng Guozhang, general manager of Baofeng Foreign Trade Co Ltd, a Fujian-based slippers manufacturer with an annual output of 25 million pairs, said Sunday after returning from the trade fair. Read more