The General Administration of Customs of the People's Republic of China (China Customs) said on Monday, “at present, China's exports are facing a complex and severe external situation, but "the sky will not fall". “

Additional quotes

  • Year-on-year (YoY) decline in imports in the first quarter was mainly due to the decline in international product prices and fewer working days.

China’s January-March Yuan-denominated exports +6.9% YoY.  

  • China’s Jan-March Yuan-denominated imports -6.0% YoY.
  • In the first quarter of this year, economic operation started smoothly, foreign trade pushed forward under pressure, and achieved scale growth and quality improvement.
  • Will strictly implement all measures to control the United States in accordance with the law and safeguard national sovereignty and security.
  • China is actively building a diversified market, deepening cooperation with all parties in the supply chain.
  • Importantly, China's domestic demand market is broad.
  • Under the interference and impact of tariffs imposed by the United States, bilateral trade continued to grow, an increase of 4%.

Market reaction

AUD/USD keeps its range near 0.6300, adding 0.15% on the day at the time of writing.

Source: Fxstreet