Private Companies Account for Record Share of Chinese Exports in April at over 51%
The latest official data points to a rise in the share of private enterprise in Chinese exports in the wake of the COVID-19 pandemic.
Figures from China’s customs authority indicate that private enterprises accounted for a record share of exports in the month of April, helping to drive a reversal in growth falling a sharp trade decline in the first quarter due to the impacts of COVID-19.
Private enterprises accounted for a 51.7% share of the value of goods exports in the month of April, for the highest level on record.
In 2015 private enterprise accounted for 45.2% of China’s exports, surpassing foreign-invested enterprises for the first time.
Official data further indicates that the value of China’s foreign goods trade was 9.07 trillion yuan for the first four months of 2020, for a YoY decline of 4.9%, albeit a deceleration of 1.5 percentage points compared to the rate of decline for the first quarter.
Exports totalled 4.47 trillion yuan for the first four months of 2020, for a YoY decline of 6.4%, while imports were 4.33 trillion yuan, for a decline of 3.2%.
The month of April alone saw a sharp reversal in export levels, with a 8.2% YoY rise to reach 1.41 trillion yuan.