China posts strong trade figures for November

11 December 2017

China’s exports and imports unexpectedly accelerated last month in an encouraging sign for the world’s second-biggest economy, although analysts expect growth to continue cooling amid a government crackdown on financial risks and polluting factories.

As global demand has surprised with its strength, consumers have lapped up Chinese goods at a rapid rate this year, giving the economy a boost and providing policymakers room to tighten rules to curb high-risk lending.

Exports in November rose 12.3% year-on-year, the fastest pace in eight months, led by strong sales of electronics and hi-tech goods, while commodity purchases helped lift imports. The number beat analysts’ forecast of a 5% increase and compared with 6.9% growth in October.

Meanwhile, the imports grew 17.7% year-on-year in November, the General Administration of Customs said on Friday, also well above expectations of 11.3% growth and rising at the fastest pace since September.

Rebound in imports come as Chinese yuan has fallen 2.8% against the dollar since hitting its 2017 peak on September 8. The latest data showed the country posted a trade surplus of USD 40.21 billion for the month versus expectations for USD 35 billion in November after October’s USD 38.185 billion.