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Exports in May register growth over April
03
Jun '09
A report released recently by the China Federation of Logistics and Purchasing shows that China's new export order index in May rose one percentage point from the previous month, to more than 50 percent, indicating that contraction of exports has slowed down. The index is a sub-item of manufacturing Purchasing Managers Index (PMI).

The Federation surveyed 700 enterprises to conclude the analysis. The Purchasing Managers Index (PMI) for the manufacturing sector, in reaching more than 50 percent means that, orders received in May, by more than half of the surveyed enterprises improved from the previous month.

Therefore the overall situation of exports in May indicates that it was better than in April, although May exports are likely show a decline year-on-year. It is learned that the industries that received better export orders in May were garments, shoes and hats, chemical fiber, non-ferrous metals, machinery and electronics, rubber and tobacco.

However, orders for the textile industry fell from the previous month and in addition, there was no big improvement in iron and steel (ferrous metal smelting, etc.) industries. At present, refund rate of textile and apparel exports has reached 16 percent, just 1 percentage point from 17 percent of the full export rebate rate.

Industry people say that higher rebate rate has very little meaning, if there are no orders or smaller orders. Statistics released earlier show that China's exports in April fell 22.6 percent. However, according to the analysis of the Customs, exports in April grew 6.9 percent from the previous month based on average working days.

The State Council held an executive meeting on May 27, putting forward six policy measures to further stabilize external demand, including: improve insurance policy of export credit; improve export tax policy to further address financing difficulties of foreign trade enterprises.

Other than the above were; reducing burden on foreign trade enterprises; improve policy for processing trade and support enterprises in various ownership types to go out into overseas markets, in order to stimulate exports.

Fibre2fashion News Desk - China

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