Thursday, 14 December, 2017

China September Exports Rise 9%

GETTYMr Xi recognises China is in a delicate balancing act GETTYMr Xi recognises China is in a delicate balancing act
Preston Stone | 13 October, 2017, 14:11

Trade volume for private enterprises also increased, as their combined volume rose 17.8 percent, compared with the share for the same period of past year.

A rebound in China's exports this year has helped support Chinese economic growth this year.

China's imports have been growing at a double-digit pace since January. Copper imports were the highest since March.

Exports increased 8.1% in September compared with the same period a year earlier, following 5.5% growth in August, the General Administration of Customs said Friday.

The world's second biggest economy recorded a trade surplus of CNY193 billion (USD29.3 billion), down from CNY 286.5 billion in August.

The trade surplus narrowed in September to $28.47 billion from almost $42 billion the previous month, falling short of expectations for a $37.3 billion surplus.

Business activity stepped up also due partly to the late timing of the country's Mid-Autumn Festival holiday, which left more working days in September than in the same month of 2016.

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Customs spokesman Huang Songping did not provide the trade values for September, but said imports of coal, iron ore and apparel from North Korea all declined in the month, and there were no imports of seafood.

The politically volatile surplus with the United States was $28.1 billion.

China-U.S. ties have also been strained by demands that Beijing do more to pressure North Korea over Pyongyang's nuclear and missile programs.

China's exports expanded at a slower than expected pace but remained robust in September.

China's economy has surprised analysts with its resilience so far in 2017, expanding by 6.9 percent in the first half, though most market watchers have stuck to predictions that it would lose some momentum in coming months.

That could see a further rise in borrowing costs for companies and consumers.

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