ibusinesslines.com
ibusinesslines.com July 18, 2018


China September imports blow past expectations

13 October 2017, 02:09 | Kelvin Horton

GETTYMr Trump will travel to Beijing to meet Xi Jinping

GETTYMr Trump will travel to Beijing to meet Xi Jinping

That is the joint-highest monthly level this year, tying the figure from March.

China's trade growth accelerated in September in a sign of resilient global and domestic consumer demand.

Exports increased 12.4 percent to 11.16 trillion yuan, while imports surged 22.3 percent to 9.13 trillion yuan, the General Administration of Customs (GAC) said.

The country's trade surplus last month narrowed to 193 billion yuan ($29.3 billion) from 286.49 billion yuan 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.


A rebound in China's exports this year has helped support Chinese economic growth this year. House says that part of the pick-up comes amid shift in the timing of the Mid-Autumn Festival, leading to more working days last month than in September 2016.

That compares with a 5.5 percent rise in exports and a 13.3 percent jump in imports seen the month before. The trade surplus was the lowest in six months. USA officials have resumed criticizing Chinese policy after President Donald Trump said in April he would temporarily shelve disputes while Washington and Beijing cooperated on North Korea.

China's economy has surprised analysts with its resilience so far in 2017, expanding by 6.9% in the first half, though most market watchers have stuck to predictions that it will slowly begin to lose growth momentum later in the year.

Authorities are in the midst of a campaign to reduce the risks from a rapid build-up in debt produced by years of credit-fueled stimulus, and sustained trade growth could give policymakers confidence to step up the campaign next year once the leadership reshuffle is out of the way.



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