Chinese producers and traders of Christmas goods in East China s Zhejiang Province, a manufacturing and trading hub for small commodities, are experiencing a surge in exports this year, with some seeing a 10-20 percent year-on-year increase, the Global Times learned from industry insiders on Monday.
Chinese exporters have seen weak demand for festive products for coming Halloween, with orders down nearly 40 percent year-on-year. However, Christmas consumption shows the opposite trend, as the festival is more commonly celebrated on a global level.
Goods are piled up in warehouses, workers are busy packing and loading packages on trucks, and trucks are lining up to head to railway stations… This is a common picture for traders in Yiwu, the world s small commodity hub, in East China s Zhejiang Province, as the city reopened on Wednesday after a period of pandemic lockdown.
As Yiwu in East China’s Zhejiang Province, often dubbed the world’s supermarket or the world s small commodity capital, entered the first day of a three-day “static management” due to COVID-19, local businesses said that they have seen certain disruptions, but the impact remains limited so far.
Chinese traders are taking an active approach by adjusting production capacity and diversifying their markets in response to weakened consumption in the US, where inflation is elevated and cannot be easily tamed shortly. Experts predict the situation could worsen in the second half of the year, as the runaway inflation continues to sap the US’ .