July 27, 2021 — There are signs that China’s economy is cooling, as economic data for the second quarter of 2021 showed China’s GDP growth slowed due to slower state-led investment and weaker consumption growth. China’s exports in Q2 2021 rose 20 percent, but higher prices for oil and other imports are eroding China’s strong trade balance.
Meanwhile, seafood prices are soaring across the country. Wholesale prices for freshwater seafood surged 20 percent year-on-year in the first half of 2021 in China, according to data published by the National Bureau of Statistics. The climb in prices is 13.1 percentage points higher than the rise seen in the first half of 2020 and has added 0.12 to China’s overall consumer price index (CPI). The overall seafood price index was up 17.2 percent in the first six months, suggesting tightened supply.