Empty shipping containers sign of China's economic prowess

China's foreign trade is expected to maintain a consistent growth momentum this year, bolstered by an overall improvement in the country's economic situation, said Yu Jianhua, minister of the General Administration of Customs at a news conference in Beijing.

The official's remarks came in response to a media inquiry regarding the recent influx of empty shipping containers at Chinese ports.

This situation can be attributed to various factors, including the overproduction of new containers during previous period, low storage costs of domestic ports, seasonal regularity effect and the short-term return of containers due to the easing of the COVID-19 pandemic abroad, said Yu.

The minister noted that the abundance of empty containers to a certain extent reflects the global market's continued confidence in China's export capacity for the next phase, he said.

According to the latest customs statistics, the country's volume of containers for export has continued to grow since late February.

"Compared to other countries, China's competitive advantages remain significant. With the overall improvement of the country's economic situation, the steady start of foreign trade in the first two months is expected to be maintained this year," he said.