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Chinese exporters are turning domestic markets as the epidemic affects overseas markets

Chinese exporters are turning domestic markets as the epidemic affects overseas markets

Jun 02, 2020

Beijing, May 24 (AFP) - China, the world's second largest economy, is rebounding after the number of cases tapered off after the covid-19 outbreak halted trade.

Chinese exporters are turning to the domestic market after years of selling goods overseas, the report said.

Taobao, China's online marketplace, reported a 160 percent jump in the number of foreign trade businesses opening stores on the domestically focused platform between February and may.

In the past, foreign sales at beilisi toys co., based in shantou, accounted for nearly half of the company's sales, but that proportion dropped sharply after the outbreak. In this case, bally is trying to increase domestic sales by changing product packaging and cooperating with multiple e-commerce platforms.

Miao wei, minister of industry and information technology, said on Monday that China's goal is to "quickly tap into domestic demand" to make up for the shortfall in external demand.

Jin wu, managing director of a Hong Kong-based kitchen supplies manufacturer with factories in China, told AFP that the company was preparing to attend a trade fair in China to boost sales at home. He hopes the mainland market, which used to account for just 5 per cent of sales, will grow to half that.

"The outbreak has accelerated our plans to enter the mainland market," he said.

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