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China's trade grow strongly in Nov
By Wang Yanlin |
December 10, 2010, Friday
|
Online Edition
Online Edition
BOTH China's exports and imports jumped strongly in November, with vibrant domestic demand helping imports grow and making trade surplus lower than a month before.
Exports in China expanded 34.9 percent from a year earlier last month to US$153.3 billion, up from the increase of 22.9 percent in October, the General Administration of Customs said today.
Imports climbed 37.7 percent to US$130.4 billion, beating October's pace of 25.3 percent. Trade surplus in November thus settled at US$22.9 billion, down from US$27.1 billion a month earlier.
"The strong growth showed a solid economic recovery in China despite of increasing uncertainties in Europe and the United States," said Xue Jun, an analyst at the CITIC Securities Co. "However, the authorities should still keep a close eye on external situations, and the crisis in Europe may spread to more countries and disturb China's exports."
Another issue is the trade surplus. Although it retreated from a record-breaking level in October, the pressure exerted by developed countries for a stronger yuan has never rebated.
According to Bloomberg, United States Senate Foreign Relations Committee Chairman John Kerry said this week that the US Congress is growing impatient with China holding down the yuan's value and plans impose legislation "with teeth" next year.
Exports in China expanded 34.9 percent from a year earlier last month to US$153.3 billion, up from the increase of 22.9 percent in October, the General Administration of Customs said today.
Imports climbed 37.7 percent to US$130.4 billion, beating October's pace of 25.3 percent. Trade surplus in November thus settled at US$22.9 billion, down from US$27.1 billion a month earlier.
"The strong growth showed a solid economic recovery in China despite of increasing uncertainties in Europe and the United States," said Xue Jun, an analyst at the CITIC Securities Co. "However, the authorities should still keep a close eye on external situations, and the crisis in Europe may spread to more countries and disturb China's exports."
Another issue is the trade surplus. Although it retreated from a record-breaking level in October, the pressure exerted by developed countries for a stronger yuan has never rebated.
According to Bloomberg, United States Senate Foreign Relations Committee Chairman John Kerry said this week that the US Congress is growing impatient with China holding down the yuan's value and plans impose legislation "with teeth" next year.
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