China’s exports show ‘strong competitiveness’ in August, but challenges remain
China’s exports rose by 8.7 per cent from a year earlier in August, while imports rose by 0.5 per cent last month
As China’s exports grew at their fastest pace in 17 months in August – partly owing to front-loaded shipments to the European Union – Beijing has stepped up efforts to de-escalate trade tensions with its second-largest export destination.
Imports, however, rose by just 0.5 per cent from a year earlier in August, compared with 7.2 per cent growth seen in July.
The data came as a delegation led by China’s commerce vice-minister Li Fei met with EU director general for trade Sabine Weyand in Brussels on Monday to address ongoing trade frictions, China’s commerce ministry said on Tuesday.
“The anti-subsidy case involving electric vehicles is complex and has broad implications, posing significant challenges for China and the EU to reach an agreement through consultation,” the ministry said.
“However, China believes that if the EU demonstrates sincerity and works collaboratively, both sides can resolve their concerns through dialogue.”
China’s trade data shows strong export competitiveness and weak domestic demand
The visit is considered a precursor to ministerial-level discussions next week, when Minister of Commerce Wang Wentao will be in Brussels to meet with the EU’s trade commissioner, Valdis Dombrovskis.