China F&A Monthly: June 2020
China’s central government has issued economic rescue packages, making reducing unemployment, ensuring people’s livelihoods, and relieving enterprises’ burden priorities over economic growth targets. To tackle high unemployment issues, the government is encouraging small businesses.
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These include street vendors, who have suffered from crackdowns in previous years due to food sanitation issues, industry management, and attempts to improve the city image. Curbing prices of necessities such as pork will continue to be part of the government’s efforts to ensure livelihoods. While the market prices of a number of F&A products are still weak, the overall supply/demand is starting to show some positive signs, with falling prices being stabilized and inventories piled up during lockdown being destocked. However, with rising tensions between the US and China, along with the disruptions to logistics and production in exporting countries, the momentum of China’s strong imports seen in the first five months is expected to slow.
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