• A burning issue

    The Knysna fires have shown that SA needs to be fire-aware and wary, says Mandi Smallhorne.

  • True economic freedom

    Harping on inequality and repressive rich people deflects attention from the real issues, say analysts.

  • Terry Bell's Inside Labour

    A winter of discontent looms as public sector unions gear up for pay and benefit talks.

All data is delayed
Loading...
See More

China exports surge ahead of trade friction risk

Feb 10 2017 10:01
Bloomberg News

Beijing - China’s overseas shipments rebounded in January with exports to the US rising, just as it braces for potential trade frictions under Donald Trump’s presidency.

Key points

Exports rose 7.9% from a year earlier in dollar terms Imports increased 16.7% Trade surplus was $51.4bn. Exports gained 15.9% in local-currency terms

Big picture

Trump - who has accused China of unfair trade practices - is assembling a cabinet that includes critics of the world’s largest exporter. Its shipments to the US rose 9% from a year ago in dollar terms.

Policy makers are surveying Chinese companies this month to evaluate the potential impact should the US label the nation a currency manipulator and imposes punitive tariffs, according to people familiar with the issue. Rising demand from Asia and Europe may help counter risk from the US.

Economist takeaways

“The exports outlook for China is good, except for the potential risk of a Sino-US trade war,” said Shen Jianguang, chief Asia economist at Mizuho Securities Asia in Hong Kong. The strong performance in January “is related to the global pick-up in growth in the US, Europe and also emerging economies. Imports are strong, which is understandable, as Chinese government stimulus has boosted domestic demand.”

"The earlier arrival of Lunar New Year this year by almost a week seems to have encouraged more activity concentrating in January," said  Raymond Yeung, chief greater China economist at Australia & New Zealand Banking in Hong Kong.

The details

Exports to Japan rose 9.8%, 5.8% to the European Union Imports from US rose 27.3%. Imports of coal, crude oil rising.

Read Fin24's top stories trending on Twitter:

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest. 24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

china  |  trade  |  exports  |  economy

NEXT ON FIN24X

 
 
 
 

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Compulsory social security fund on the cards

Previous results · Suggest a vote

Loading...