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China's trade growth accelerates in September

FILE- In this July 13, 2017 file photo, trucks move shipping containers at a port in Qingdao in eastern China's Shandong Province. China’s trade growth accelerated in September, in a sign of resilient global and domestic consumer demand. Trade data on Friday, Oct. 13, 2017, showed exports rose 8.1 percent, up from August’s 5.5 percent. Imports rose 18.7 percent, an improvement from the previous month’s 13.3 percent.(Chinatopix via AP, File)
October 12, 2017 - 9:44 PM

BEIJING - China's trade growth accelerated in September in a sign of resilient global and domestic consumer demand.

Exports rose 8.1 per cent to $198.3 billion, up from August's 5.5 per cent, trade data showed Friday. Imports rose 18.7 per cent to $169.8 billion, an improvement from the previous month's 13.3 per cent.

The figures were a positive sign for Chinese demand despite forecasters' expectations that economic growth will slow this year as Beijing tightens controls on bank lending to rein in surging debt.

Business activity stepped up also due partly to the late timing of the country's Mid-Autumn Festival holiday, which left more working days in September than in the same month of 2016.

Export growth was unexpectedly strong in the first half of the year, a positive sign for Chinese leaders who want to avoid job losses in trade-related industries as they try to nurture consumer-led economic growth.

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 International Monetary Fund expects this year's economic growth to slip to 6.6 per cent from last year's 6.7 per cent and to below 6.2 per cent in 2018.

China's global trade surplus in September shrank 38.6 per cent from the same time last year to $28.5 billion.

The politically volatile surplus with the United States was $28.1 billion. U.S. officials have resumed criticizing Chinese policy after President Donald Trump said in April he would temporarily shelve disputes while Washington and Beijing co-operated on North Korea.

The surplus with the 28-nation European Union, China's biggest trading partner, was $9.2 billion.


General Administration of Customs of China (in Chinese):

News from © The Associated Press, 2017
The Associated Press

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