Tuesday, 24 October 2017
Latest news
Main » China's trade growth picks up pace, suggesting robust economy

China's trade growth picks up pace, suggesting robust economy

13 October 2017

BEIJING-China's exports grew 9.0% in September from a year earlier in yuan terms, following a 6.9% gain in August, official data showed Friday.

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

The gap, almost 20 percent more than the same period a year earlier, was attributed to service imports in tourism, transportation and other traditional sectors, the MOC said.

China's global trade surplus in September shrank 38.6 percent from the same time a year ago to $28.5 billion.

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.

China's foreign trade will likely grow at a double-digit pace this year if current conditions continue, the General Administration of Customs said.

The politically volatile surplus with the United States was $28.1 billion. Import growth slowed to 15.5 percent, from 18.1 percent.

China-US ties have been strained by President Donald Trump's criticism of China's trade practices and by demands that Beijing do more to put pressure on North Korea.

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.

With the European Union, China's exports rose 10.4 percent and imports 30.9 percent.

Authorities are in the midst of a campaign to reduce the risks from a rapid build-up in debt produced by years of credit-fuelled stimulus, and the continued strength of imports and exports could give policymakers confidence to stick with their deleveraging push into next year.

China's trade growth picks up pace, suggesting robust economy