China's exports return to growth
Logistical snags and congestion at ports, airports and highways are overcome
In the first five months of the year, China's exports increased by +13.5 percent, while imports registered +6.6 percent. These are the most immediate effects of measures taken by Beijing to reach the official goal of making the country's gross domestic product grow by +5.5% in 2022. The positive figures are the result of progressively overcoming logistical snags and congestion at ports, airports and highways, aggravated by the pandemic and lockdowns.
Meanwhile, the Dragon recently announced a package of 33 new measures covering fiscal, financial, investment and industrial policies. It is a move aimed at stabilizing the situation in a politically sensitive year ahead of the Chinese Communist Party Congress at the end of the year. However, the outlook remains difficult due to high commodity costs and uncertainties over the war in Ukraine.
To achieve national goals, the central government is urging local officials to revive supply chains, restore economic growth and curb unemployment. Meanwhile, factories have resumed their production and begun to overcome logistical and transportation snags, especially in Shanghai, the world's largest port of call, where container traffic has returned to 95.3 percent of normal levels; thanks in part to this, exports have grown for the first time in the past three months.
AVIONEWS - World Aeronautical Press Agency