China News Express: China's abroad Trade in 2023

chiny24.com 1 year ago

Foreign trade China 2023

The General Administration of Customs of China (chin. 中国海关总署) reported that in December 2023) Chinese exports counted in RMB of the country increased by 3.8% y/y and imports by 1.6% y/y. abroad trade increased by 0.2% y/y for the full year, including exports by 0.6% y/y, while imports decreased by 0.3% y/y.

China's abroad trade in yuan shows a recovery trend. However, another image appears, in a dollar bill.

In December last year Chinese exports increased by 2.3% y/y, imports by 0.2% y/y, erstwhile in November the erstwhile increased by 0.5% y/y and imports decreased by 0.6% y/y.

Throughout 2023, abroad trade in China in US dollars decreased by 5.0% y/y, including exports by 4.6% y/y (first decrease since 2016), and imports by 5.5% y/y (lowest in 3 years).

Geopolitical tensions, global economical slowdown, weak home request – these are the main factors in this situation.

The first 3 most crucial trading partners of China do not change. The largest are inactive the countries of Southeast Asia ASEAN (turnover increased by 0.20% y/y). The second is the European Union, although with a fall of 1.9% y/y. 3rd place was taken by the United States, with a fall of 6.89% y/y.

Last year, turnover with Latin American countries increased (growth by 6.8% y/y) and Africa (growth by 7.1% y/y). Against this background, Chinese exports to Russia increase by 47% and imports by 13%.

A strong point of export is the alleged “new three” product:

    • lithium-ion batteries,
    • electric cars and
    • Solar panels.

Their average export growth in 2023 was 29.9% y/y. For electrical cars, this increase was 58.6% y/y.

Source: https://wallstreetcn.com/articles/3706224

CPI and PPI inflation in China 2023

Deflationary force doesn't decrease. In December, the 3rd period in a row, consumer goods prices (CPI) fell. December inflation reached -0.3% y/y. Over the full year 2023 inflation was 0.2% y/y (the slowest rate since 2009), which is simply a contrast to inflation levels recorded in another countries, especially those of highly developed countries.

Producer prices (PPI) besides decreased last year. In December this indicator reached -2.7% y/y, the average over the full 2023 was -3.0% y/y.

Internal request is weak, and the problems of the real property sector proceed to weigh heavy on the economy.

Source:

  • https://wallstreetcn.com
  • https://www.stats.gov.cn
  • https://www.stats.gov.cn

“The hardest” companies on Chinese stock exchanges

At the end of 2023 the most valuable companies The marketplace value of Chinese exchanges was

  • Taiwan Semiconductor Manufacturing Co., Ltd. (TSMC) (combined circuits, semiconductors) — 3,82 trillion RMB (approx. PLN 2,134 trillion),
  • Shenzhen Tencent Computer Systems Co., Ltd. (games, social media, WeChat, Wechat Mobile Pay) – 2,523 trillion RMB (approx. PLN 1,407 trillion),
  • China Kweichow Moutai Distillery (Group) Co., Ltd. (manufacturer of the celebrated MaoTai) – 2,168 trillion RMB (approx. 1,210 trillion PLN), who lost his position as leader after six years of leadership in this category.

Source: https://news.mydrivers.com/1/955/955778.htm

Author: 梁安基 Andrzej Z. Liang, 上海 Shanghai, 中国 China

Email: [email protected]

Editorial: Leszek B.

Email: [email protected]

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