The Sunday Mail
Manyika Kangai
China’s Foreign Trade Grows
China’s foreign trade saw double-digit growth in June, a positive indicator that the world’s second-largest economy is recovering from the headwinds of Covid-19 outbreaks. China’s foreign trade growth accelerated to 14,3 percent in June, compared with 9,5 percent in May and 0,1 percent in April, according to data from the General Administration of Customs (GAC) released on Wednesday. From January to June, China’s foreign trade of goods jumped 9,4 percent year-on-year to 19,8 trillion yuan (about US$2,9 trillion). Exports rose 13,2 percent year-on-year to US$11,1 trillion yuan (about US$1,7 trillion), while imports increased 4,8 percent from a year ago to 8,7 trillion yuan (about US$1,3 trillion).
Shanghai Airport Returns to Normal
The average daily frequency of cargo flights and freight volume of the Shanghai Pudong International Airport returned to normal levels in the first week of July, according to the Shanghai Airport Authority. Since June, there has been an increase in the frequency of cargo flights at the airport. In late June, Pudong airport recorded an average of 232 cargo flights every day, with the daily throughput averaging 9 133 tonnes, up 33,6 percent and 28,1 percent respectively compared with the same period in May. During this period, a daily record of 253 cargo flights was set with the daily throughput amounting to 10 797 tonnes, on par with a high level in the same period of 2021. At present, a total of 58 Chinese and foreign airlines operate cargo flights at the airport with air routes linking 68 destinations around the world.
China’s Auto Exports Surge
China’s car exports sustained their growth momentum last month, hitting a record high and soaring 57,4 percent year-on-year, according to the China Association of Automobile Manufacturers on Monday. In June, car companies exported 249 000 vehicles, climbing 1,8 percent from a month earlier. Some 198 000 passenger cars were exported last month, jumping 65,6 percent from the previous year, and exports of commercial vehicles stood at 51 000 units, an increase of 32,4 percent. In the first half, China’s car exports rose 47,1 percent year-on-year to nearly 1,2 million units. Exports of new energy vehicles came in at 202 000 units in the first six months, skyrocketing 130 percent.
NW China Trade Fair Sees Growth in Deals
The 28th China Lanzhou Investment and Trade Fair concluded on Monday, recording significant growth in the number and value of deals signed during the event held in northwest China’s Gansu Province. A total of 898 deals collectively worth 531 billion yuan (about US$79,3 billion) were signed at the fair, with those figures respectively up about 28,8 percent and 35,9 percent year-on- year, according to the organising committee. Contracts signed in the fields of new energy and new materials made up 38,3 percent of the total number of deals. First held in 1993, the fair has become a window for the opening up of northwest China and a major event for Belt and Road economic and trade cooperation.
China’s Digital Yuan Transactions Expanded
China’s digital yuan transactions amounted to 83 billion yuan (about US$12,3 billion) by the end of May this year amid the country’s push for pilot use of the digital currency. A total of 264 million digital yuan transactions had been carried out as of end of May, according to the People’s Bank of China (PBOC) on Wednesday. By May 31, the digital yuan payment service was accessible in nearly 4,57 million commercial outlets. The pilot programme of the digital fiat currency, or the e-CNY, has been expanded to 23 areas in 15 provincial-level regions.
*Manyika Kangai helps African businesses realise the full potential of vast opportunities China presents. He has over 15 years of experience facilitating and advising on China-Africa trade and investment deals.
