Monday, 26 June, 2017

China Exports Surge Ahead of Potential Challenge From Trump

China’s imports in January rose at the fastest pace in four years China Exports Surge Ahead of Potential Challenge From Trump
Julia Daniel | 12 February, 2017, 00:55

Exports rose 7.9 percent in January from a year earlier in dollar terms, the customs administration said Friday.

Trade relations between China and the U.S. are likely to be the focus of the White House now that temsions over the One China policy appear to have eased following President Donald Trump's assurance to uphold it when he called President Xi Jinping on Thursday.

It said exports jumped by 7.9 percent year on year to $182.8 billion (171.6 billion euros), reversing December's 6.1-percent plunge.

Imports also beat forecasts coming rising by 16.7 per cent in January.

Ahead of the release of the figures, economists cautioned that Chinese economic data in the month of the Lunar New Year holiday could be distorted.

China's improving picture for exports after subdued data the prior month follow a better-than-expected economic growth pace of 6.8 percent in the fourth quarter, the first acceleration in two years.

Chinese exporters suffered a record 119 trade remedy investigations initiated by 27 countries and regions past year, 36.8 percent more than 2015. The Lunar New Year period in 2017 began in late January. The US is China's largest export market, accounting for 18.5 percent of its total shipment overseas.

China's foreign trade figures were up in the first month of 2017, with total volume growing almost 20 percent since a year ago to US$482.2 billion.

Exports increased by 15.9 percent to 1.27 trillion yuan, according to the General Administration of Customs.

As both trading prices and volume of commodities were notably higher than the same period past year, China's trade surplus might narrow in the future, since domestic demand is likely to improve continuously, Xu said.

"We believe this is driven by storage with excess crudes going into storage". The indexes for exports and imports edged up to 50.3 and 50.7 respectively, staying above the 50 demarcation line for three straight months.

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