Reuters reported that, boosted by strong external demand, China’s manufacturing recovered rapidly and the momentum exceeded expectations. Related factories are eager to fill the labor gap to complete export orders.
Singapore’s “Lianhe Zaobao” stated that China’s exports have surged and the supply of containers has exceeded demand. China’s latest export container shipping index hit a record high, which is mainly due to the rapid growth of China’s exports.
The US “Fortune” magazine website reported that in the second quarter of this year, when most countries were still at the peak of the new crown pneumonia epidemic, Chinese factories have gradually resumed work and production, cities have gradually resumed normal operations, and the Chinese economy has recovered quickly.
After the new crown pneumonia epidemic was effectively controlled and China resumed work and production, China’s export growth exceeded expectations. There are many reasons behind this.
In terms of the industrial production base, one of China’s advantages is its complete supply chain and relatively small dependence on external parts and raw materials. Compared with industries such as tourism, industrial production is relatively less affected by the movement of people, so China’s industrial production has recovered rapidly.
In terms of the relationship between the supply side and the consumption side, the most important feature of the impact of the epidemic on the economy is that the impact on the supply side is greater than the consumption side, which is particularly significant in developed countries. The epidemic’s restrictions on the movement of people and transportation control have prevented production in many countries from recovering. However, because governments of various countries are actively launching consumption stimulus plans, the impact of the epidemic on the consumer side is relatively small, so there is a gap in supply and consumption. And because of the rapid recovery of production, China is supplying materials to the world, making the most of the characteristics of the world’s factory.