26 March 2019

Manufacturers optimistic despite slipping trade, Xinhua says

Participants in the ongoing Canton Fair in southern China’s Guangzhou City are optimistic the country’s overseas trade will remain robust this year, despite data showing a sharp drop in exports and imports in March, the official Xinhua news agency reported Tuesday.

Haier Group, one of the country’s leading consumer electronics and home appliance companies, managed to post a slight year-on-year growth in March by enhancing customer service, senior executive Sun Subao said.

“We have kept innovating to satisfy our consumers worldwide,” Sun was quoted as saying.

Haier is banking on smart appliances, which can be accessed and controlled remotely through mobile internet, to maintain growth, he said.

China’s foreign trade in March dropped 9 percent to US$332.5 billion from a year earlier. Exports were down 6.6 percent at US$170.11 billion, while imports tumbled 11.3 percent to US$162.41 billion.

Gao Yuanjia, general manager of Jiangsu Chunlan Import & Export Co. Ltd., a maker of air-conditioning systems, cited rising labor costs and market competition as factors contributing to a more difficult trade environment.

But Gao said his company is focusing on innovation to capture opportunities for growth.

Hongyu Ceramics, meanwhile, has seen stable export volume in the past two years despite sluggish demand and anti-dumping disputes, the report said.

– Contact HKEJ at [email protected]



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