Editorial﹕Warnings from the negative growth in Guangdong's exports

【明報專訊】GUANGDONG's exports dropped by 3.3% to 1.91 trillion yuan in the first half of the year. Although the whole country's exports still experienced an increase of 4.9% in the same period, given the fact that Guangdong's exports comprise one quarter of the country's sum, the negative growth in the province's exports is indeed cause for alarm about China's yearly exports amid the escalating trade war. Because of the interdependence between Guangdong and Hong Kong, a downturn in Guangdong's exports is bound to have an impact on Hong Kong's trade and sectors like the shipping industry. Despite the fact that Guangdong has long been planning to reconstruct its economy and has been consciously promoting trade with Belt and Road countries, it has still become a casualty of the trade war. Hong Kong's economic restructuring is now an urgent task that can no longer be delayed.