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Strong expansion of China’s foreign trade leads to boom in container handling and manufacturing

Cargo handling in China’s ports registered steady growth in July, with the robust expansion of the country’s foreign trade, data from the Ministry of Transport showed. Last month, China’s ports handled 1.27 billion tonnes of cargo, an increase of 11.3% year-on-year, according to the ministry.

The movement of containers in the country’s ports in July increased annually by 12.4%, to 23.71 million units equivalent to twenty feet (TEUs), revealed the ministry. From January to July, cargo handling in China’s ports totaled 8.91 billion tonnes, while container handling reached 161.89 million TEUs, the data showed.

Container handling

According to the China Ports Association announced that the country’s main ports registered growth in container handling in mid-August.

From August 11th to 20th, container handling in China’s eight main ports increased by 2.7% year-on-year. Specifically, the movement of containers for foreign trade increased 5.3% in annual terms. The growth rate of container handling for foreign trade in the ports of Xiamen and Guangzhou exceeded 20% in the period, revealed the association.

The boom in the movement of containers for foreign trade came amid the rapid expansion of Chinese exports, which grew 24.5% compared to last year in the first seven months of 2021, to 11.66 trillion yuan (US$1, 8 trillion).

Container production

With Chinese foreign trade booming, China International Marine Containers (Group) Ltd. (CIMC), a leading container manufacturer, posted record performance in the first half of this year amid rising global demand for containers. The company’s revenue reached 73.2 billion yuan (US$11.3 billion) in the period, an increase of 85.6% year-on-year, while its net profit totaled 4.3 billion yuan, according to the earnings report of the first half released on Friday night.

The company’s container business generated revenue of 27.5 billion yuan in the period, growing 224.9% year-on-year, while its net profit reached 4.39 billion yuan, about 18 times the figure for the same period of the year. past.

This is the company’s best first-half performance since production began in 1982, the report notes. The CIMC attributed its robust growth in the first half to the resurgence in global trade in commodities and the growing demand for shipping containers in the period. CIMC is headquartered in Shenzhen, a technology center in Guangdong Province, southern China.

 

Source: Comex do Brasil

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09.07.2021

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