The disappointing exports reflected weak global demands, especially in European countries and some emerging markets. Although moderate economic recovery goes on in the United States, Australia, Russia and some other emerging markets still have a great pressure of economic slowdown in recent years due to such factors as expanded economic downturn in euro countries, commodity price diving, expectation for suspension of quantitative easing of the Federal Reserve and economic downturn in China. We noticed that our exports to euro countries and some emerging markets also declined in recent three months. Moreover, continuous appreciation of yuan and rise of labor cost also weaken competitiveness of products made in China.
On the other hand, the strict supervision of cross-border trade by domestic regulatory bodies and possible outflow of arbitrage capitals exerted a great negative impact on exports statistics. It is noted that the export growth of logistics products through special controlling zones (including bonded zones, export processing zones, bonded logistics parks, bonded ports and other special trade zones) slowed down sharply from 256.6% of first four months this year to 45.8% in May and 2.6% in June.