Gains possible for nation's imports, exports during H2: experts
The slump in China's exports in dollar-denominated terms eased in July, while the decline in imports accelerated, the General Administrations of Customs said on Monday.
The trade surplus widened to $52.31 billion from $48.11 billion in June, according to statistics released by the bureau.
Exports in dollar terms slid 4.4 percent year-on-year in July, a slight improvement over June's 4.8 percent decrease. Imports dropped 12.5 percent, compared with a decline of 8.4 percent in June, the data showed.
Driven by a global economic recovery, favorable government policies and innovation by domestic enterprises, contractions in China's exports and imports may continue to ease during the second half of 2016, experts said on Monday.
There may even be gains during the period, they said.
Accelerating import declines mainly reflected fluctuations in global commodity prices in recent years, said Liu Jianying, an associate research fellow at the Chinese Academy of International Trade and Economic Cooperation.
The slowdown in the rate of contraction by exports is a positive sign for China's foreign trade, as the factors contributing to the trend will relieve the downward pressure on China's exports and imports in the second half of 2016, experts noted.
One big reason is a rebound in the global economy in recent months.
That rebound "has led to a pick-up in global demand for goods made in China," Liu told the Global Times on Monday, noting that the argument is supported by a number of economic indicators.
For example, the Baltic Dry Index, a major indicator for maritime bulk cargo rates, jumped above 600 in June from a record low point of 290 in February.
Meanwhile, the Chinese government has issued a number of policies with regard to cost-cutting and driving robust growth in foreign trade in recent years, said Sang Baichuang, director of the Institute of International Business at the University of International Business and Economics in Beijing.
According to a report by the Ministry of Commerce, the State Council, China's cabinet, has published 16 documents to boost foreign trade since 2013.
The country also signed the WTO's Trade Facilitation Agreement in September 2015, aiming to reduce cost burdens and maximize efficiency for cross-border goods flows, according to an announcement on the WTO's website.
"These policies have begun to yield results in recent months," Sang said, noting that the trend will also boost China's global trade in the long term.
Domestic enterprises' efforts in pursuing innovation and upgrading are also playing a vital role, said Liu.
"Domestic enterprises are no longer embroiled in price wars. Instead, they are cultivating their intellectual property and competing in high-tech sectors, which will serve as the engine for future export growth," Sang told the Global Times on Monday.
