China Delays Trade Data Release Amid US Shipping Decline; Chinese Firms Lead Global Share Sales with $3.4 Billion in April

China has delayed its weekly trade data release amid escalating U.S. tensions and a projected 35% drop in shipments to the U.S. West Coast due to new tariffs. Despite this, Chinese companies led global equity markets in April, raising $3.4 billion through share sales, surpassing the U.S. and Europe. The latest data from China's Ministry of Transport shows a 10% year-on-year increase in container throughput at Chinese ports, suggesting a shift in trade focus to other markets. The delay coincides with a national holiday and heightened scrutiny over the impact of U.S. tariffs.

China Delays Trade Data Release for the First Time in 2025

China’s Ministry of Transport has not published its regular weekly trade statistics, typically released every Monday, as of Wednesday morning local time. This marks the first such delay in 2025. The ministry did not respond to inquiries regarding the reason for the delay or when the data would be released. The delay coincides with a five-day national holiday beginning Thursday, during which government offices and markets will be closed.

Since the ministry began releasing weekly trade data over two years ago, it has delayed publication 16 times and skipped one release entirely. The longest previous delay was four days in mid-2023. The current delay comes at a time of heightened scrutiny, as global markets await official figures to assess the impact of new U.S. tariffs on Chinese exports.

U.S. Shipping Activity Slumps as Tariffs Take Effect

Shipping volumes from China to the United States have dropped significantly in recent weeks. Gene Seroka, Executive Director of the Port of Los Angeles—the largest U.S. port by container volume—warned that cargo volumes from Asia are expected to fall by more than 35% next week compared to the same period in 2024. According to Seroka, about a quarter of the usual number of arriving ships is expected to be canceled in May.

The decline follows the Trump administration’s April 2 announcement of punitive tariffs exceeding 100% on most Chinese imports. In response, Beijing imposed reciprocal tariffs, further straining bilateral trade. Seroka noted that major American retailers have halted shipments from China, opting instead to source goods from Southeast Asia, where tariffs are lower.

Shipments from China currently account for approximately 45% of the Port of Los Angeles’ business. The port had seen a 14% year-over-year increase in cargo volumes in the first quarter of 2025, as U.S. companies stockpiled inventory ahead of the tariff hike. However, that trend has now reversed sharply.

Chinese Ports Process 10% More Containers Year-on-Year

Despite the slowdown in U.S.-bound shipments, China’s ports processed 6.3 million standard 20-foot containers in the most recently reported week, a 10% increase compared to the same period last year. The data, published last week, suggests that Chinese exporters may be redirecting shipments to other markets, particularly in Southeast Asia, where U.S. tariffs have been suspended on many goods.

This increase in container throughput indicates that overall trade volumes have not yet collapsed, even as exports to the U.S. decline. Analysts suggest that exporters are adjusting their logistics strategies to mitigate the impact of the U.S.-China trade conflict.

Chinese Companies Lead Global Share Sales in April

While trade tensions have disrupted goods movement, Chinese companies have surged ahead in global capital markets. In April, Chinese firms raised a total of $3.4 billion through initial public offerings (IPOs), placements, and block trades, according to Bloomberg data. This represents an 88% increase from the same month in 2024.

Notable transactions included offerings by tea chain Chagee Holdings Ltd. and biopharmaceutical company Duality Biotherapeutics Inc. The strong performance contrasts sharply with the U.S. and Europe, where share sales have slowed significantly. U.S. equity offerings are on track for their weakest month in over a year, while European share sales have declined by more than 80%.

The robust fundraising activity by Chinese firms comes amid a tightening capital environment in the U.S., where regulatory scrutiny and market volatility have made it more difficult for companies to go public or raise additional funds.

Broader Trade and Economic Context

The delay in China’s trade data release and the slump in U.S. shipping volumes come against the backdrop of a broader economic slowdown. China’s official purchasing managers' index (PMI) fell to 49.0 in April, indicating a contraction in factory activity. This marks the fastest pace of contraction in 16 months.

Meanwhile, U.S. job openings fell to their lowest level since September 2024, and consumer confidence has declined for five consecutive months. The U.S. Treasury Secretary has warned that China could lose up to 10 million jobs if current tariff levels persist.

Despite these challenges, Chinese outbound investment remains strong. In the first quarter of 2025, Chinese companies completed $1.4 billion worth of deals in Europe, including Tencent’s $1.6 billion acquisition of a stake in Ubisoft’s new subsidiary. This trend reflects a strategic pivot by Chinese firms toward overseas markets amid domestic and bilateral trade pressures.

References

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• Chief of major US port shares grim warning about Chinese shipments due to Trump tariffs
• Asian Shares Mixed As China's Factory Activity Contracts
• LA port exec says cargoes are set to drop 35% starting next week as tariffs hit demand
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