Caixin Global – Latest China News & Headlines

Home >


CX Live is Caixin Global's real-time news portal, featuring 24-hour breaking news, short-form analysis, and roundups from business and social media in China.

China’s State Asset Overseer Appoints New Director
Ex-Moutai Chairman Ousted From Communist Party as Corruption Charges Loom
Two ‘Big 4’ Banks Expected to Open Wealth Management Units in June
Baidu Continues Shaking Up Its Management Board
Xiaomi Fires Vice President for ‘Obscene’ Behavior
Update: Chinese EV Startup Digs Into Real Estate
Chinese DNA Sequencing Firm BGI Faces Legal Battle with Illumina
U.S. Companies and Consumers Pay for China Tariff Costs, IMF Says
Weibo Shares Slump After Q1 Revenue Growth Slows
Anxin Trust Questioned for Plunging Profits and Accounting Errors
Meituan Sees Strong Revenue Growth, Despite Drag From Mobike
DHL, Panasonic Deny Severing Huawei Ties
China Renewables Industry Comes of Age With Ambitious Subsidy-Free Projects
China Readies 600 Kph Maglev Prototype
Mercedes-Benz Makes it Easier to Trade in Defective New Cars in Wake of PR Nightmare
Shanghai Man Sentenced to Death for Child Murder
How to Find Illegal Lenders? Watch Who’s Taking Cases to the Courts
Pull the Brakes on New Gas Car Sales by 2030, Think Tank Tells Beijing
Hong Kong-Listed China Telecom Gets New Chief
Tencent Leads $250 Million Round in Chinese Travel Site Mafengwo
Cabinet Vows to Promote Debt-for-Equity Swaps to Relieve Debt
More Bidders Join the Race for $5.79 Billion Gree Stake
Regulators Halt High-Interest ‘Smart Deposits’: Sources
Machinery Traders Feel Trade-War Pinch

By Qu Hui and Han Wei / Apr 17, 2019 03:35 AM / Economy

Photo: VCG

Photo: VCG

Chinese machinery traders have started feeling the pain of tariffs and the unsettled trade disputes between China and the U.S. with sharp business declines in the first quarter.

Several traders at the iconic Canton Fair, which opened Monday, told Caixin that their first-quarter orders and shipments declined between 10% and 30% because of the trade frictions.

Machinery is the biggest catalogue of China’s foreign trade, covering a wide range of products including mechanical and electronic products. Machinery products accounted for 52% of China’s total exports last year and 59% of total imports.

The U.S. is the biggest customer for China’s machinery exports with about 20%, followed by the European Union, official data showed. Machinery products have also been the main targets of the tariff fight between the two countries since the trade war escalated last summer.

Analysts said traders rushed to deliver orders during the second half of 2018 to avoid potential new tariffs, pushing up last year’s machinery exports by 10.6%. The industry has since started to feel the pinch as the effects of the tariffs take hold.

Related: China’s Exports Recover in March, Growing at Fastest Pace in Five Months

Share this article
Open WeChat and scan the QR code
Copyright © 2017 Caixin Global Limited. All Rights Reserved.