China’s economy is recovering according to recent statistics numbers.
From January to May, China’s total import and export of services increased by 22%
According to the Ministry of Commerce on the 7th, from January to May, China’s service trade continued to maintain steady growth, with a total import and export of services of 2365.3 billion yuan, a year-on-year increase of 22%. The growth of service exports was 8.1 percentage points higher than that of imports, driving the service trade deficit to drop by 46% to 61.8 billion yuan. In May, the total import and export volume of services in China was 456.3 billion yuan, a year-on-year increase of 22.2%.
The average daily express delivery in June exceeded 300 million pieces
On July 7, the State Post Bureau stated that the average daily business volume of express delivery in June recovered to more than 300 million pieces. That was more than the level of the same period last year. In the first half of the year, the postal express industry added 7 self-owned all-cargo aircraft. The number of 747 and 767 wide-body freighters rose to 19. And the cross-border long-distance transportation capacity enhanced significantly.
Development Research Center of the State Post Bureau has some expectations for the second half of the year. Firstly, the dividend effect of the policy of guaranteeing access and smoothness will be further manifested. Seconly, online consumption will gradually return to the active range. Moreover, the development environment of the industry is increasingly optimized. Lastly, the potential space for traditional operation in peak seasons is still available.
The net inflow of northbound funds in June exceeded 70 billion yuan
In terms of capital market, the net purchase of northbound funds in June exceeded 73 billion yuan. It’s a new high since 2020. Over 80% of the industries received additional positions from northbound funds. That is also the third consecutive month that northbound funds have shown net inflow. ‘Northbound funds’ refers to the inflow of funds from Hong Kong to the Shanghai and Shenzhen stock markets in the north. People has always considered it as a weather vane for international capital allocation of A shares. Since June, a large number of northbound funds have flowed to A-shares, demonstrating the confidence of overseas funds in the long-term investment value of the A-share market.
With all the signs above, we believe China’s economy is recovering. And it won’t be long before it hits new record. Come join us in exploring the China market! Deep Digital China is your best adviser!