1. Friday May 25, 2018
      Home > BUSINESS
      Text:| Print|

      China foreign trade growth rebounds in May

      2012-06-11 09:00 Xinhua     Web Editor: Zhang Chan comment

      China's foreign trade growth trumped market forecasts to post double-digit rates in May, boosted by slightly-improved external markets and more working days in the month.

      China's foreign trade rose 14.1 percent year on year to 343.58 billion U.S. dollars in May, rebounding from the 2.7-percent growth registered in April, data with the General Administration of Customs (GAC) showed Sunday.

      The figure replaced the monthly trade record set in November 2011, when foreign trade amounted to 334.11 billion U.S. dollars, the GAC said.

      Both imports and exports reached record highs in May, with exports climbing 15.3 percent from a year earlier to 181.14 billion U.S. dollars, and imports rising 12.7 percent to 162.44 billion U.S. dollars.

      In May, the trade surplus hit 18.7 billion U.S. dollars, slightly higher than the 18.42 billion U.S. dollars seen in April.

      The better-than-expected data showed China's foreign trade has stepped out of its previous low times, said Huo Jianguo, director of the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce.

      But the country should still be cautious about the long-term trend, Huo said, citing uncertainties with the Eurozone debt crisis.

      The persistent fall in foreign trade, one of China's three key drivers, has dragged down growth in the world's second-largest economy. China's first-quarter GDP growth slowed to an almost three-year low of 8.1 percent.

      The data have added a touch of brightness to the lackluster economic data released Saturday, which showed barely any improvement in investment and consumption, the country's other two economic drivers.

      The double-digit nominal expansion was partly fueled by more working days in May, said Zhao Jinping, deputy head of the foreign economic research department under the Development Research Center of the State Council.

      The three-day Labor Day holiday, which was all in May last year, had two days in April this year.

      After seasonal adjustments, the annual foreign trade growth slowed to 11.1 percent in May, CAC data showed.

      Huo said improving markets in the United States and Japan, stable growth in emerging economies, as well as less pressure for the yuan to rise further also helped boost May's trade data.

      Trade growth in June will stay at the current level, he said, stating that China is likely to achieve its foreign trade target this year as along as the Eurozone situation remains stable.

      China has targeted an annual rise of around 10 percent in foreign trade this year, compared to 22.5 percent last year.

      However, some analysts warned that the rebound may not be able to last.

      "It's still unclear whether the whole trend has changed or not, since the year's trade situation has been in fluctuation," Zhao said.

      China registered 7.1-percent and 7.3-percent growth in foreign trade in March and the January-February period, respectively, and trade in January dropped 7.8 percent year-on-year.

      Zhang Yansheng, director of the Institute for International Economics Research under the National Development and Reform Commission, said as a lagging indicator, trade data usually reflect situations three to six months prior, and are susceptible to seasonal and base factors.

      The U.S. is showing signs of recovery, but the nation, together with the Eurozone economies, will be stuck in a state of slacking demand and weak confidence for a long time, Zhang said.

      Domestically, China is set to brace for rising costs in production means such as labor and land, which will pare its product competitiveness, he added.

      In the first five months of the year, China's foreign trade rose 7.7 percent year on year to 1.51 trillion U.S. dollars, with exports and imports up 8.7 percent and 6.7 percent, respectively, to 774.4 billion U.S. dollars and 736.49 billion U.S. dollars.

      China saw a trade surplus of 37.91 billion U.S. dollars during the January-May period, the GAC said.

      The European Union remained China's largest trading partner in the first five months despite the lingering debt crisis. Bilateral trade growth rebounded slightly, up 1.3 percent to 220.82 billion U.S. dollars, compared to the 0.3 percent logged in the first four months.

      During the period, China's trade with the U.S. -- its second-largest trade partner -- reached 190 billion U.S. dollars, up 12 percent year on year, faster than the 9.2-percent growth registered in the first four months.

      The 10-member Association of Southeast Asian Nations (ASEAN) held its position as China's third-largest trade partner, with China-ASEAN trade amounting to 153.74 billion U.S. dollars, up 9.2 percent year on year.

      Bilateral trade between China and Japan, which is still recovering from last year's devastating tsunami and massive earthquake, increased 0.4 percent from a year earlier to 134.71 billion U.S. dollars.

      China saw robust trade with Russia, which joined the World Trade Organization this year, and Brazil, a major exporter of iron ore and other raw materials. Trade with Russia and Brazil surged 24.4 percent and 10.9 percent, respectively, to 36.3 billion U.S. dollars and 33.23 billion U.S. dollars.

      Comments (0)

      Copyright ©1999-2011 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.

      主站蜘蛛池模板: 国产免费人成视频尤勿视频| 美女被爆羞羞网站免费| 人妻无码久久一区二区三区免费 | 免费激情网站国产高清第一页| 久久久久久久久久免免费精品| 四虎永久成人免费影院域名| 曰批免费视频播放在线看片二| 亚洲人AV永久一区二区三区久久| 国产A∨免费精品视频| 亚洲最大福利视频网站| 亚洲成a人片在线观看日本麻豆 | 国产亚洲福利精品一区二区| 免费精品国产自产拍在线观看图片| 自怕偷自怕亚洲精品| 好大好硬好爽免费视频| 国产精品九九久久免费视频| 国产美女精品久久久久久久免费 | 91精品免费高清在线| 国产亚洲人成A在线V网站 | 最刺激黄a大片免费网站| 亚洲一区二区三区免费在线观看 | 91在线老王精品免费播放| 亚洲色图视频在线观看| 一本色道久久88综合亚洲精品高清| a级片免费在线观看| 亚洲狠狠婷婷综合久久蜜芽| 亚洲色大成网站WWW国产| 久久久青草青青国产亚洲免观 | yy6080亚洲一级理论| 久久高潮一级毛片免费| 久久丫精品国产亚洲av不卡 | 7m凹凸精品分类大全免费| 欧洲 亚洲 国产图片综合| 免费午夜爽爽爽WWW视频十八禁| 高清永久免费观看| 亚洲欧洲尹人香蕉综合| 免费观看四虎精品国产永久| 日本一道本不卡免费 | 国产精品无码永久免费888| 亚洲成av人片在线看片| 国产午夜无码视频免费网站|