Highlights of This Month’s Edition
- Bilateral trade: U.S. goods imports from China stood at $36.6 billion in May 2020, down 6.6 percent year-on-year; U.S. and global demand for Chinese exports likely to remain weak through the summer.
- Trends in China's Economy: China’s revised negative list aims chiefly to leverage foreign capital for domestic policy goals; China’s National Audit Office reported that more than $7.1 billion (RMB 50 billion) of funds raised from special-purpose bonds last year remain unused, adding to concerns that government efforts to stimulate growth through infrastructure spending are losing steam; rising risks in China’s $3.1 trillion trust industry, a key shadow banking component, threaten financial instability and draw renewed regulatory scrutiny; China’s 6.18 shopping festival generated roughly $155.2 billion in sales this year but growth in online shopping has not been enough to offset an overall drop in retail sales.
- In Focus – China Stock Market Reforms: Beijing accelerates pace of stock market reforms to channel funds to firms hard hit by the pandemic and prepare for prospects of reduced access to U.S. capital markets.
July 2020 Trade Bulletin962.7 KB