NEWS2B2BIn 2013, Chinese seaborne imports surpassed 2 billion metric tons, doubled from 1 China on the Rise ... Againbillion metric tons in 2008China Growth Plans are Positive for Global Shippinghina’s aim of 7.5% GDP growth for 2014 is positive news for the Cshipping market – in particular, dry bulk, the Baltic and International Maritime Council (BIMCO) said in a published report.Despite being a little down on the 2013 GDP growth of 7.7%, BIMCO said the growth target of 7.5% set by China’s Premier Li Keqiang at his ? rst appear-ance at China’s annual parliamentary session bodes well for shipping, trade and commodity demand in 2014.In 2013, Chinese seaborne imports surpassed the 2 billion metric tons mark, according to CRSL. To put that into per-spective, it means that China has now more than doubled its imports from 1 billion metric tons in 2008 to 2.1 billion metric tons in just ? ve years.Imports of dry bulk commodities dom-inate the trade by accounting for 74% in 2013. Led by iron ore, which accounts for 39%, the scope of imports become larger and wider every day.“The importance of China to the ship-ping market is second to none,” said of the target, delivered during the 12th evant to the shipping industry and the • On Foreign Trade:Peter Sand, Chief Shipping Analyst, National People’s Congress on March macroeconomic foundation, taken from “We will make it a strategic priority to BIMCO. “This goes for all major ship-5, comes after a couple of month where the Premiers speech (source: Bloom- upgrade exports and promote balanced ping segments. In spite of leaving the the Chinese economy has shown some berg): growth of foreign trade. Total imports double-digit growth rates behind us in weakness in Purchasing Managers Index and exports are projected to grow at the previous decade, the sheer size of the (PMI) developments. • Future Economic Development: around 7.5% this year. We will keep ex-world’s second-largest economy now Recent development in Chinese PMI “We must keep economic develop- port policies stable and improve them, gives so much impetus to our industry showed an eight-month low in the of- ment as the central task and maintain accelerate reform to facilitate customs that we have become addicted to China.”? cial PMI, coming in at 50.2 in Febru- a proper economic growth rate. On the clearance, and extend trials of cross-A stable and improved Chinese econo-ary. The HSBC China Manufacturing basis of careful comparison and repeat- border e-commerce.”my, even at a slower GDP growth level, PMI posted at 48.5 in the same month edly weighing various factors as well as is thus vital to a sound shipping mar-supplements this slowing tendency. Both considering what is needed and what is ket going forward. The announcement indexes agree on tougher conditions for possible, we set a growth rate target of smaller and medium-sized enterprises, around 7.5%.”whereas larger enterprises seem to fend off the headwind rather better. • Recalibrating the Economic The average of China’s manufacturing Growth Model:PMI for 2013 was 50.2 for the HSBC/ “Boosting domestic demand is both a 7.57.5Markit indicator, which is more focused major force driving economic growth on smaller and medium-sized enterpris- and an important structural adjustment. 7474China’s aim of 7.5% GDP es, whereas the of? cial PMI indicator, We need to fully leverage the basic role growth for 2014Imports of dry bulk com- which is more focused on the larger en- of consumption and the key role of in-modities dominate the trade terprises, averaged at 50.8. vestment, foster new regional economic by accounting for 74% in mainstay belts, stimulate both supply 2013. Selected key statements from the and demand, and establish a permanent China Premier mechanism for increasing domestic de-BIMCO gathered statements, all rel- mand.”10 Maritime Reporter & Engineering News • APRIL 2014MR #4 (10-17).indd 10 MR #4 (10-17).indd 10 4/4/2014 9:48:06 AM4/4/2014 9:48:06 AM