Men at container terminal

Imports increase in China on a m/m basis

China’s imports increase at their fastest pace this year in September, while exports extended strong gains as more trading partners lifted Covid-19 coronavirus restrictions in a further boost to the world’s second-biggest economy.

Exports in September rose 9.9% from a year earlier, customs data showed on Tuesday, broadly in line with analysts’ expectations and up from a solid 9.5% increase in August.

The strong trade performance suggests Chinese exporters are making a brisk recovery from the pandemic’s hit to overseas orders.

As the global economy restarts, Chinese firms are rushing to grab market share as their rivals grapple with reduced manufacturing capacity.

“The big picture is that outbound shipments remain strong, with easing demand for COVID-19 related goods such as face masks being mostly offset by a recovery in broader demand for Chinese-made consumer goods,” Capital Economics Senior China Economist Julian Evans-Pritchard said.

“A jump in imports suggests that domestic investment spending remains strong.”

China’s factory activity has also increased as international trading gradually resumes.

But some analysts warn exports could peak soon as the demand for Chinese-made protective gear recedes and the base effect of this year’s massive declines wears off.

Imports increased by 13.2% in September, returning to growth from a fall of 2.1% in August and much stronger than expectations for a 0.3% increase. The import strength was broad-based for almost all of China’s main trading partners.

Taiwan’s imports also increase by 35.8% in September from a year ago, while purchases from the United States rose 24.7% on-year. Imports from Australia, however, fell 9.5%.

Imports increase from home

Wang Jun, the chief economist at Zhongyuan Bank, said the data showed government support for the economy has kicked in as the epidemic comes under control.

“This has boosted domestic demand, especially investment-led demand, which buoyed imports,” Wang said, adding that the yuan’s recent appreciation was positive for imports and people’s spending power.

Source: The Star

The Singapore commercial activity its has a fall

Singapore’s commercial activity registers its worst decline since 2008 due of the spread of Covid-19, as reflected a study carried out 151 companies in the Asian country.

The Singapore University of Social Sciences and Business Times magazine, conducted the survey indicating a severe reduction in revenue, sales and business, representing a decline in all of the country’s commercial activity.

Up to 84 percent of respondents predicted that business in the final three months of the year will be worse for the commercial area than in the same period of 2019 and 2008.

The biggers companies consulted expressed their concern, because the government assistance plans have been focused on small and medium-sized companies and the workforce, leaving out larger – scale commercial activity.

Prioritys: commercial activity or government  support plan

Currently, the government is promoting an employment support plan that benefits 140,000 companies in the country. Last April, this measure was launched and the four million dollars was approved, approximate, for execution.

This initiative has a main objective to serve those companies affected by the Covid-19 pandemic, as well as to provide support to workers.

The restriction measures are maintained, the government plans for next June 1 to enter a new reactivation phaseof the national economy and commercial activity, however, the Covid-19 outbreak continues.

Cases report

A total of 451 cases were confirmed on May 19 in Singapore, in a statement issued by the Ministry of Health, only one corresponds to a community case, while the other 450 come from citizens with work permits who live in dormitories.

To date, the total number of cases rises to 28,794, with 10,365 patients discharged and 22 deaths, while efforts continue to contain its spread throughout the national territory.