According to data released by the General Administration of Customs, the total import and export volume of China`s foreign trade in the first half of this year was 14.67 trillion yuan, an increase of 3.9% over the same period last year. Among them, exports grew by 6.1%, the growth rate was the same as in the previous five months, and imports continued to grow.
Is China`s manufacturing industry emigrating overseas? 3 reasons for them to stay
Bai Ming, deputy director of the International Market Research Institute of International Trade and Economic Cooperation of the Ministry of Commerce, attended the China News Agency-sponsored National Forum-Mid-2019 Economic Situation Analysis Conference on the 15th, saying, [Observing from China`s import and export data in the first half of the year, foreign trade has initially stabilized and been improved steadily.[
When it comes to the moving out of China`s manufacturing industry, Bai Ming pointed out that, as far as China`s strong manufacturing power is concerned, the relocation of manufacturing industry will not have a devastating impact on China`s manufacturing industry in short time. Those countries do not have China`s advantages of scale economy, industrial association and industrial agglomeration.
Effects on vape industry
Vape industry is transferring from labour-intensive industry to technology-intensive industry. Many vape companies including ALD, FEELM are investing more capital on technology research and product development. Some technologies are recognized worldwide by winning international high-tech awards like Golden Leaf, Red Dot, etc. Meanwhile, more and more auto-machine robotic production lines are launched which turns the labor cost advantage into automatic large scale product advantage. Therefore, vape industry in China will not see obvious relocation in the near future or even witness some new strong growth with the emergence and growth of the domestic market and ceaseless growth of the international e-cig market.