China’s foreign trade has passed the most difficult period
China Customs announced that the US dollar-denominated exports in June increased by 0.5% year-on-year, which was better than market expectations of a 1.5% decline, and the previous value fell by 3.3%. As for imports, it also increased by 2.7% year-on-year, which was significantly higher than the market’s expected decline of 10%, and the previous value fell by 17%. The mainland’s foreign trade performance was better than market expectations, and both imports and exports saw a rise, driving a trade surplus of US$46.42 billion in June, which reflects that China’s foreign trade has passed the most difficult period. In addition, the General Administration of Customs of the Mainland stated that in the first half of this year, China’s exports to the United States fell by 8.1%, while imports from the United States fell by 1.5%, and the overall trade surplus of the two sides decreased by 10.8%. Both China and the United States should create conditions and atmosphere, and their comments reflect that the Sino-US trade agreement is being implemented.
Britain decides not to use China Telecom to build 5G network
The British government decided not to use Chinese telecommunications providers to build its 5G network. The decision is believed to be retaliated by Beijing. It is understandable that Britain chose to follow the United States politically. But in the face of Brexit, when the UK desperately needs to find a new trading partner, it loses the huge market of China, which is really detrimental to the British economic prospects.
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