1. Text: | Print|

      China's exports better than expected

      2013-12-09 08:21 Xinhua Web Editor: qindexing
      1

      China's exports outperformed market expectations in November due to improved data in the United States and the European Union.

      Exports went up 12.7 percent year on year in November and imports gained 5.3 percent year on year, according to the General Administration of Customs on Sunday.

      November's export growth is above the market expectation of 7.0 percent, thanks to improved data in the United States and the European Union, said Liu Ligang, chief Greater China economist at ANZ Banking Group.

      Foreign trade stood at 370.6 billion U.S. dollars in November, including 202.2 billion U.S. dollars of exports and 168.4 billion U.S. dollars of imports.

      Trade surplus hit 33.8 billion U.S. dollars in November, the second month for China to report more than 30 billion U.S. dollars of trade surplus, Liu said.

      In the eleven months, foreign trade gained 7.7 percent year on year to 3.8 trillion U.S. dollars.

      China targeted foreign trade growth of 8 percent year on year in 2013. The target is higher than last year's real growth but below the 10 percent target set for last year.

      Peng Wensheng, chief economist of China International Capital Corporation, said the Christmas season contributed to the rebound in November's exports.

      Another reason for the year-on-year growth was the relatively low basis in November 2012, Peng said.

      Chen Hufei, an expert with the Bank of Communications, warned "inflated export growth" was another possible factor to boost exports.

      "Inflated export growth" basically involves arbitrage trading. It means that companies may misreport exports to obtain tax rebates or bypass government fund controls to channel fund into the mainland to profit from gaps in foreign exchange rates and interests rates.

      "Inflated export growth" existed in exports of the first half year, Liu echoed.

      But Zhao Jinping of the State Council's Development and Research Center took it as "negligible", though it might have existed.

      Such behavior has prompted authorities to tighten supervision on trade flow.

      The foreign exchange regulator on Saturday vowed to intensify supervision of commercial banks' trade finance to curb fake financing and prevent abnormal flows of cross-border foreign exchanges.

      It will also step up supervision on companies with abnormal trade balances, especially those with abnormal rises in long-term trade financing and having typical traits of arbitrage.

      Despite the upbeat data, Chinese manufacturers will still face difficulties as they are losing traditional competitive edges in prices because of higher costs and rising yuan, Zhao said.

      The sharp trade surplus in November may further aggravate pressure for the yuan to appreciate, Chen echoed.

      The November data is in line with China's official figures on its manufacturing expansion.

      The purchasing managers' index stood at 51.4, the same as October, the National Bureau of Statistics said.

      A reading below 50 indicates contraction, while that above 50 signals expansion.

      China's economic growth in the first nine months stood at 7.7 percent, well above the government's full-year target of 7.5 percent.

      Its next quarterly release on economic performances will be due in January 2014.

      Comments (0)
      Most popular in 24h
        Archived Content
      Media partners:

      Copyright ©1999-2018 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.

      主站蜘蛛池模板: 日日摸日日碰夜夜爽亚洲| 国产精品免费视频一区| 亚洲爆乳精品无码一区二区三区 | 天天综合亚洲色在线精品| 成人免费视频软件网站| 亚洲AV无码国产精品色| 无码国产精品久久一区免费| 久久亚洲AV无码精品色午夜 | 国产无遮挡无码视频免费软件| 国产亚洲欧洲Aⅴ综合一区| 一级免费黄色大片| 精品国产亚洲一区二区三区| 成人网站免费看黄A站视频| 亚洲国产一区二区三区青草影视| 日本免费一区二区三区| 亚洲人成电影在线观看网| 毛片免费vip会员在线看| 国产成人 亚洲欧洲| 国产日产亚洲系列| 99在线免费观看视频| 国产精品亚洲专区在线观看| 国产无遮挡色视频免费视频| 人成电影网在线观看免费| 国产AV无码专区亚洲AV男同| 美女被免费喷白浆视频| 色偷偷噜噜噜亚洲男人| 亚洲中文字幕无码一区| 国产精品永久免费10000| 日韩色日韩视频亚洲网站| 国产精品亚洲一区二区三区在线| 亚洲精品视频在线观看免费| 亚洲午夜无码久久| 亚洲色欲一区二区三区在线观看| h视频在线观看免费完整版| 蜜桃传媒一区二区亚洲AV| 国产亚洲精品自在久久| 日韩av无码成人无码免费| 国产日韩AV免费无码一区二区三区| 亚洲国产精品一区| 亚洲AV无码之日韩精品| 特级精品毛片免费观看|