Weak External Demand And Weak Economic Recovery

At a regular press conference, according to preliminary statistics from the General Administration of customs, in April 2015, the total import and export volume of US $318 billion 500 million decreased by 11.1% compared with the same period last year.

Of which, exports amounted to 176 billion 300 million US dollars, down 6.4%; imports 142 billion 200 million US dollars, down 16.2%; the surplus was US $34 billion 100 million, an increase of 82.9%.

From a regional perspective, China's exports to Japan and the EU dropped by 12.9% and 10.1%, respectively, thanks to the passive appreciation of the renminbi.

Imports from South Africa, Brazil, Russia and India have declined by 37.2%, 25.3%, 22.3% and 21.4% respectively, bringing together the overall import growth by 2.1 percentage points.

The import and export of foreign trade data in April were negative growth, but the export decline was narrowed.

"Under the superposition of unfavorable factors such as internal and external demand, international commodity prices and the passive appreciation of RMB, China's import and export remained negative in April, but the decline narrowed by 2.6 percentage points from the previous month.

Exports dropped by 8.4 percentage points.

The decline has widened. "

Shen Danyang said.

The passive appreciation of the RMB against non US currencies has led to some pressure on exports. Shen Danyang said that since the beginning of this year, Global trade has been generally depressed, especially in major economies and some.

The export of the country is generally negative growth. "Under such a background, our exports have increased by a small margin. This is a good performance among the major economies and major trading powers in the world."

Shen Danyang points out, but now

The situation is very grim, or the pressure on foreign trade to grow steadily is unprecedented.

This is the reason why the global economic recovery is weak and the external demand is low. It is also affected by the rising cost of domestic elements, the difficulty in financing enterprises and the high cost of financing.

"It goes without saying that the major non US dollar currencies such as yen, euro and rouble have generally depreciated, while the renminbi has remained basically stable, which has objectively weakened the competitive advantage of China's export commodities, increased the risk of foreign exchange collection, and increased the operational pressure of foreign trade enterprises."

Shen Danyang said, "in view of the increasing risk of exchange rate fluctuations of major currencies in the world, we encourage financial institutions to develop more products of exchange rate hedging, and suggest that enterprises should further strengthen exchange rate risk management, and adopt more exchange rate hedging tools to expand the scale of RMB settlement and enhance the awareness and ability to deal with exchange rate risks.

At the same time, we hope that all countries will strengthen monetary policy coordination and jointly maintain sustained global financial stability.