Free Newsletters - Space - Defense - Environment - Energy
..
. Medical and Hospital News .




TRADE WARS
China exports grow strongly on demand from US, Europe
by Staff Writers
Beijing (AFP) Dec 08, 2013


China's exports grew far more strongly than expected in November while import growth weakened, official figures showed Sunday, fuelling the country's biggest trade surplus in nearly five years.

Exports increased 12.7 percent year-on-year to $202.2 billion, the General Administration of Customs said -- compared with a forecast of seven percent in a poll of 11 economists by the Wall Street Journal.

Imports were up 5.3 percent year-on-year to $168.4 billion, with the monthly trade surplus expanding to $33.8 billion from $31.1 billion in October -- the biggest since January 2009.

The November surplus was also considerably larger than the median forecast of $21.7 billion by the 11 economists.

The surprisingly strong exports data came after overseas shipments expanded 5.6 percent in October following a decline of 0.3 percent in September.

"China's November exports came in much higher than expected", ANZ bank economists Liu Li-Gang and Zhou Hao said in a report, citing "better demand from developed economies" like the United States and the European Union.

Exports to the United States rose 17.7 percent in November year-on-year, while shipments to the 28-member European Union gained 18.4 percent.

The growth in imports, however, came in at less than the forecast increase of seven percent and was also below October's 7.6 percent growth.

"Imports were disappointing," said HSBC economist Ma Xiaoping. "Domestic demand is still tepid."

The latest trade data came after China's economy snapped out of a first-half slump, with gross domestic product growth in the third quarter accelerating to 7.8 percent year-on-year after it slowed during the first two quarters.

Earlier this month official figures showed that China's manufacturing growth in November maintained a strong pace from the previous month to stay at a 19-month high.

The purchasing managers' index was at 51.4, unchanged from October, the National Bureau of Statistics said.

A reading above 50 signals expansion while a figure below indicates contraction.

In the first 11 months of the year, China's total trade, combining exports and imports, reached $3.8 trillion, up 7.7 percent from the same period last year, Customs said. The government's target for 2013 is eight percent.

"The data in January-November suggest that China could achieve the eight percent trade growth target for the whole year", Liu and Zhou said.

They cautioned, however, against over-optimism, stressing what they described as "inflated export growth in the first half of the year" when companies were caught over-invoicing, which instigated a crackdown by Chinese authorities on the practice.

HSBC's Ma said the November export data may suggest the problem has not been solved.

"The State Administration of Foreign Exchange issued strict regulations earlier in the year, but lately I hear that some new methods to evade the regulations are emerging," she said. "So maybe that's part of the reason for such high exports."

-- Dow Jones Newswires contributed to this report --

.


Related Links
Global Trade News






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





TRADE WARS
Chinese tycoon unveils $10bn Ukrainian port project: report
Beijing (AFP) Dec 06, 2013
A Chinese tycoon who plans to dig a canal across Nicaragua has unveiled his latest project - a $10 billion deal to build a deepwater port in Ukraine, giving him a foothold in Europe, state-run media said Friday. Wang Jing's Beijing Interoceanic Canal Investment Management Co. and Ukrainian partner Kievgidroinvest will pour a total of $10 billion into building the port, oil reserves and an e ... read more


TRADE WARS
Millions of lives at risk as governments fail to adopt disaster warning system

Late treatment for many Philippine typhoon victims: WHO

Human trafficking a worry in post-typhoon Philippines: US

China graft investigation into ex-head of quake city

TRADE WARS
'Smart' wig navigates by GPS, monitors brainwaves

CIA, Pentagon trying to hinder construction of GLONASS stations in US

GPS 3 Prototype Communicates With GPS Constellation

Russia to enforce GLONASS Over GPS

TRADE WARS
Evidence of funerary meal found at 13,000-year-old gravesite in Israel

Skull find shows women were sacrificed in ancient China

Study suggests inbreeding shaped course of early human evolution

Investments in Aging Biology Research will Pay Longevity Dividend

TRADE WARS
South Africa's 'CSI': probing rhino poaching

A living desert underground

How bacteria respond so quickly to external changes

Evolution, Civil War history meet in fossil with tragic past

TRADE WARS
Hong Kong quarantines 19 people over second bird flu case

HIV cure hopes dashed for two US cancer patients

Hong Kong steps up border health checks over bird flu

Mandela the AIDS activist

TRADE WARS
Biden criticises China's treatment of US reporters

Daughters appeal for China to free jailed fathers

No more shaved heads for defendants in Chinese province

Wife of China Nobel winner pleads for eased house arrest

TRADE WARS
Spain jails six Somalis for piracy

Pirates kidnap two American sailors off Nigeria

Seaman Guard owner to fight arrest of ship's crew in India

Somali pirates on trial for seizing French yacht

TRADE WARS
Outside View: U.S. economy adds 203,000 jobs

Walker's World: That gloomy Summers

China inflation slows to 3.0% in November: govt

Japan revises down third-quarter economic growth




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement