Feedback Here

fbook  tweeter  linkin YouTube
Global contents also translated in Chinese

China exports plummet as virus cases pick up

Even though China has returned to relative normalcy while others are still reeling but conditions in the country’s manufacturing sector aren’t entirely rosy. Daily confirmed infections had dropped as the country employed dramatic actions to staunch the spread, but China’s National Health Commission reported 39 new cases of COVID-19 on Sunday, up from 19 on Saturday. Thirty-eight of the cases reported on Sunday means China hasn’t been able to stop new people from coming in and infecting its populous.

Guangdong, the center of China’s export-led manufacturing industries, reported six locally transmitted infections over the weekend, which means the spread there could be harder to slow. The continued dispersion of the pandemic, slowed or not, is posing problems for China’s production orders, which are shrinking and dragging the country’s exports down.

In a report, the China National Textile and Apparel Council (CNTAC), said the country is being hit with similar order cancellations from Western brands whose businesses have screeched to a sudden halt. But the decline in production orders means just 9 percent of manufacturers are reaching 80 percent of their normal export capacity, and more than 61 percent say their export orders are less than half of what they’d typically have.

According to weekly reports and cluster survey data, 80 per cent of enterprises reported that there were insufficient orders this week, which was 23 percentage points higher than a week ago. The entire export industry chain is facing greater operating pressure, and the starting load has shown a downward trend.

 
LATEST TOP NEWS
 


 
MOST POPULAR NEWS
VF Logo