How much impact does the Shanghai epidemic have on exports

2022-04-11 17:14:30 keepwin

Keepwin Gas solution | Reciprocating compressor

At present, the eyes of 1.4 billion people in China and even the world are focused on the epidemic prevention and war epidemic in Shanghai, the "economic capital". As the largest city in China, Shanghai is not only home to 24.9 million people, but also the country's largest economic, industrial, financial, foreign trade and shipping center. How much impact does the epidemic in Shanghai have on China's economy?

Prosper Hong Kong with business and prosper the city with Hong Kong. As a rising city in the port, Shanghai is a very important node in the global supply chain. In 2021, the container throughput of Shanghai Port exceeded 47 million TEUs, ranking first in the world for 12 consecutive years. In the same year, the import and export of provincial and municipal enterprises in the Yangtze River Delta through Shanghai port was 8.18 trillion, accounting for 81.1% of the total import and export value of the port.

The economy of Shanghai is not only closely related to that of Shanghai, but also to that of the Yangtze River Delta. In terms of import, more than 70% of imported watches, 60% of imported clothing, about 50% of imported cosmetics, pharmaceuticals and medical devices, and about one-third of imported cars, diamonds, wine and dairy products come to consumers all over the country through Shanghai port.

At the same time, in this 6340.5 square kilometers of land area, Shanghai's GDP has been ranked first in Chinese cities for decades. In 2021, Shanghai's GDP reached 4.32 trillion yuan, with a per capita GDP of 173600 yuan, 1.26 times that of Jiangsu Province and 1.77 times that of Guangdong Province.

In addition, what the public knows most about Shanghai is its status as an "international financial center". In 2021, the total amount of transactions in Shanghai's financial market exceeded 2500 trillion yuan. There are the most complete types of financial factor markets and thousands of financial institutions. The blood of China's economic operation is pumped out from here.

In this special moment, the importance of Shanghai to us is self-evident. Xin Wang, chairman of the China made think tank and President of the Research Institute, said that the suspension of Shanghai will have a great impact on China's import and export. It is very important for the Yangtze River Delta, the whole Chinese economy and the realization of China's economic growth target of 5.5% in 2022. Therefore, while continuing to take strict measures, relevant departments should seek to avoid further damage to the economy and emphasize ensuring the stability of the overall economic operation.

Some of our compressors are exported to Shanghai port. We believe that all export business will return to normal immediately