From the point of view of the export data in May, the European debt crisis has less impact on our export than expected, which shows that our export recovery is better than the market expectation, but the future foreign trade situation is still not optimistic.

In May, the export of our country was 131.76 billion dollars, up 48.5%, 18.1 percentage points faster than the previous month, and the new high since March 2007. Analysts pointed out that the high growth of China's export in May benefited from factors such as a low base in the same period last year, and was also the result of the recovery of external demand under the background of world economic recovery. Experts predict that foreign trade of our country will increase steadily this year.

According to customs statistics, in the first five months of this year, the total value of our country's import and export was 110.09 billion US dollars, an increase of 44% over the same period last year. Of this, exports were 567.74 billion US dollars, up 33.2%; Imports reached 532.35 billion US dollars, up 57.5%; The trade surplus was US $35.39 billion, down 59.9 percent.

In the first May, China's bilateral trade with the European Union increased by 37.4%, and the impact of the European debt crisis was less than expected. Under the influence of the European debt crisis and the concern of the "double dip" of the world economy, the foreign trade data in May attracted many attention. Most analysts believe that from the point of view of the export data in May, the European debt crisis has less impact on China's export than expected, which shows that China's export recovery is better than the market expectations. Look from present, the influence that European debt crisis has on our country import and export is not very big yet.

In the first five months of this year, bilateral trade between China and the EU reached US $177.49 billion, up 37.4 percent. In the same period, the total value of bilateral trade between China and the United States was US $138.68 billion, up 28.2 percent. Asean has narrowly surpassed Japan to become our country's third largest trading partner. Bilateral trade reached 111.8 billion US dollars, up 57.5 percent. During the same period, the total value of bilateral trade between China and Japan was 111.56 billion dollars, up 38.8%.

"Despite the recent turmoil in European financial markets, the outlook for the European economy remains positive," said Zhou Shiyi, macro analyst at Galaxy Securities. The Conference Board data released on May 27 showed the euro zone index rose 0.9 percent to 110.4 points in April after rising 1.2 percent and 0.5 percent in the previous two months. That suggests the recovery from recession is continuing, with indicators of economic growth returning to a steady upward trajectory, suggesting a modest pick-up in activity in the second half of the year.

Meanwhile, the U.S. economy continues to improve. "The consumer confidence of U.S. residents has improved amid a favorable environment in which real estate is stabilizing, the economy is stabilizing and employment is starting to improve," Chow said. The US consumer confidence index strengthened for the third straight month in May, rising to 63.3 and consumer expectations rose to their highest level since August 2007.