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vegassports-odds.com December 12, 2017


China exports and imports both increase

13 October 2017, 04:05 | Taylor George

The improvement in Chinese trade data comes ahead of the Communist Party's twice-a-decade congressMore

The improvement in Chinese trade data comes ahead of the Communist Party's twice-a-decade congressMore

Exports to North Korea fell 6.7 per cent last month versus a year ago, while imports fell 37.9 per cent, customs administration spokesman Huang Songping said at a briefing in Beijing.

The breakdown of trade with North Korea was given in response to a reporter's question at a briefing following publication of China's overall trade statistics for September.

China has been credited with helping to support global demand and weaker imports might hurt suppliers for whom this country is a major market.

The surplus with the United States reached 28.1 billion in September, up from 24.9 billion in September of past year.

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

The upbeat readings will be welcome new for Beijing ahead of a twice-a-decade Communist Party Congress next week, at which President Xi Jinping is expected to tighten his grip on power and set out the government's top political and economic priorities for the next five years. Copper imports were the highest since March.

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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.

China's overseas shipments rose from a year earlier, narrowly missing estimates, the latest sign that Asian trade is holding up on robust external demand and a brighter global outlook.

"Today's figures suggest that not only has strong foreign demand continued to prop up manufacturing activity in China but domestic demand remains resilient too", Julian Evans- Pritchard, China Economist at Capital Economics wrote in a note. 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. The customs agency said it will publish details its trade in specific products with North Korea on Oct 23.

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

That could see a further rise in borrowing costs for companies and consumers.



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