In April, China’s industrial output grew by 3.9 per cent, retail sales fell by 7.5 per cent and fixed asset investment fell by 10.3 per cent, suggesting an uneven recovery. Data suggests demand weaknesses remain, while for industrial engine overseas shutdowns will hamper growth before long.
Exporters of Chinese goods to Europe are scrambling to shift cargo shipments from ocean to the China—Europe rail land bridge, as ship slots become scarcer due to capacity cancelations from container lines in response to the coronavirus disease 2019 (COVID-19).