China’s exports fell by a fifth in February, according to official data. Photo: Xinhua
A black Friday in China as exports shrink, stocks plunge and homeowners face new taxes
- Overseas shipments down by a fifth in February, stock market loses 4 per cent and lawmakers move a step closer to taxing property owners
- Figures challenge widely held assumption that a likely trade deal with the US and Beijing’s policy easing moves will be enough to stabilise China’s economy
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Two Sessions 2019 (Lianghui)
China’s exports fell by a fifth in February, according to official data. Photo: Xinhua
Of those companies surveyed by the American Chamber of Commerce in South China, 19 per cent said the impact from US tariffs on their business was strongly negative, while 31 per cent said the impact was slightly negative. Photo: Shutterstock
US-China trade war has hit ‘about half’ of businesses in southern China, AmCham survey says
- American Chamber of Commerce in South China report contacted 240 firms, with 54 per cent of American companies losing out to competitors from overseas
- Firms looking to relocate supply chains cite higher costs and trade barriers in China
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China economy
Of those companies surveyed by the American Chamber of Commerce in South China, 19 per cent said the impact from US tariffs on their business was strongly negative, while 31 per cent said the impact was slightly negative. Photo: Shutterstock