The latest data released by General Administration of Customs show that China's total import and export value reached 1.96 trillion yuan this April, decreasing by 10.9% year on year. ANBOUND think tank scholars hold that trade slowdown isn’t a global phenomenon. Because of industrial transfer, international trade is also flowing out of China. With imports dropping sharply, the increase of domestic trade surplus is passive, which shows that domestic demand is still weak. Whether the series of "steady growth" policies introduced by China are effective remains to be seen in May.