Crypto News: Supply Lines: China export rebound

China's shipments abroad rose a little more than expected in April, adding to signs that the world's biggest exporter will help global trade rebound from a soft 2023.

The data released Thursday confirmed signs that demand is perking up around the world, adding momentum to a fledging Asian factory rebound. Beijing is relying on strong sales abroad to offset weak consumer spending at home, where a real estate slump has led households to tighten their belts.

China's exports were slower to some major developed economies where worries about cheap imports are growing. The groundswell of complaints about China's factory output keeps getting louder, but there's no sign Beijing is ready for fixes that might backfire on its vulnerable economy.

Regional Strength

Underneath the headlines, today's report showed:

Sales to the US were little changed while exports to European Union fell
Shipments to the Asean bloc of southeast Asian nations, in contrast, were up almost 13%
A jump in imports across many trade partners, with shipments from the US, South Korea, Taiwan, the Netherlands and Russia all rising more than 10%.

David Qu, an economist covering China for Bloomberg Economics, had this to say in a research note on the Terminal: "The return of export growth in April after the prior month's drop suggests global demand for China's products remains resilient" and that suggests "trade is likely to keep supporting the economy's overall expansion."

Other Asian trading nations also saw overseas sales climb last month on strong US demand. South Korean exports rose almost 14%, while Taiwan reported a record level of shipments to the US.

Related Reading:

—Brendan Murray in London

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