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China exports plunge on coronavirus epidemic

China exports plunge on coronavirus epidemic

13 Sept 11:02 Key points summarised by AI
  • China's exports plummeted 17.2% in January-February, marking the largest drop since February 2019, while imports also fell 4%, severely disrupting global supply chains.
  • The coronavirus epidemic forced widespread business suspensions and kept consumers home, significantly hindering economic activity and delaying the return to work.
  • Key economic indicators worsened, with manufacturing and non-manufacturing activity plummeting to record lows in February, and the trade surplus with the US sharply narrowing by 40%.
  • The extensive disruptions raise concerns about China's ability to fulfill its commitments under the partial trade deal with the US, despite official assurances that the impact will be short-term.
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