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SCMP Reporter

SCMP

China’s outbound container shipping volume continued its upwards momentum in the second week of October, suggesting further gains in the country’s total exports in the first month of the fourth quarter.
The China Containerised Freight Index stood at 1,053.8 on Friday, up 0.3 per cent from a week earlier.
The index has risen steadily in the second half of the year after falling sharply due to impact of the coronavirus pandemic.
China’s total exports have followed a similar pattern, rising for a fourth straight month in September, with the growth rate accelerating to 9.9 per cent from 9.5 per cent in August.
China’s export machine keeps humming, despite geopolitical woes
Container-based exports to Australia and New Zealand posted the biggest increase in the week, at 5.4 per cent, followed by shipments to South Africa, which rose 4.5 per cent.
Container shipments to the west coast of the United States rose 1.8 per cent in the period, while those to America’s east coast fell 0.5 per cent. Shipments to Europe also slipped, by 0.1 per cent.
Beijing is set to release gross domestic product data for the third quarter on Monday, with analysts polled by Bloomberg estimating the overall growth rate to have accelerated to 5.5 per cent from 3.2 per cent in the second quarter.
The figures are likely to have been bolstered by the construction sector, following an increase in government infrastructure investment and a rebound in the domestic property market.


Sales of heavy construction equipment, such as excavators, bulldozers and other earthmoving machines, by China’s 25 leading manufacturers in the third quarter rose by 64.8 per cent year on a year to more than 26,000 units, according to the China Construction Machinery Association.
Of the total, domestic sales rose by more than 71 per cent to 22,598, with exports up 31 per cent at 3,436, the association said.
To fund their construction projects, China’s local governments issued 720.5 billion yuan (US$107.6 billion) worth of bonds in September, the finance ministry reported, taking the total for the year to 5.68 trillion yuan.


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China economy

China’s outbound shipping container volume extends October gains

China’s container shipments have risen steadily in the second half of 2020. Photo: Reuters

China’s imports post biggest surge since before coronavirus pandemic, as trade recovery gathers steam

Last week, the World Trade Organization (WTO) revised upwards its forecast for global trade growth in 2020 to a contraction of 9.2 per cent from a range of between minus 12.9 per cent and minus 32 per cent it projected in April. Photo: Xinhua

Last week, the World Trade Organization (WTO) revised upwards its forecast for global trade growth in 2020 to a contraction of 9.2 per cent from a range of between minus 12.9 per cent and minus 32 per cent it projected in April. Photo: Reuters

China’s exports boomed in August, as trade surplus with the US widened by 27 per cent

China’s trade balance narrowed to US$58.93 billion, from US$62.33 billion in July. This shows that the gap between export growth and import growth remains significant, but is narrowing. Photo: Xinhua

Economy

China Economy

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China


Sector index up 0.3 per cent in week through Friday, with shipments to Australia and New Zealand leading the way
Rise suggests further growth in Chinese exports, with Beijing set to release third-quarter GDP figures on Monday



Sector index up 0.3 per cent in week through Friday, with shipments to Australia and New Zealand leading the way.
