Related News
Trade posts surprise rebound in May to set new records
By Wang Yanlin |
June 10, 2012, Sunday
|
Online Edition
Online Edition
CHINA'S exports and imports rebounded more strongly than expected in May, giving bigger breathing space for policy-makers to implement supportive measures.
Exports rose 15.3 percent from a year earlier to US$181.1 billion last month, up sharply from 4.9 percent in April and 8.9 percent in May, the General Administration of Customs said this morning.
Imports increased 12.7 percent to US$162.4 billion, also much quicker than April's 0.3 percent and March's 5.3 percent growth. But it was still a stark contrast with the 39.6 percent surge in February.
May's trade value of US$343.5 billion reached a historical high with both exports and imports producing a new record, the customs said in a statement. Trade surplus stood at US$18.7 billion in May, a bit more than April's US$18.4 billion.
"Trade data were much better than expected," said Xue Jun, an analyst at CITIC Securities Co. "Although the customs did not explain in details, it seemed demand from developed countries has picked up, while emerging markets continued to fare quite well."
Customs data showed trade with the debt-stricken European Union rose 1.3 percent to US$220.8 billion in the first five months, more than the 0.3 percent gain in the January-April period.
Sino-US trade also advanced 12 percent to US$190 billion in the months to May, improving from the 9.2 percent increase in the first four months.
Deals with emerging markets remained solid during the period as shipments with Russia and Brazil jumping 24.4 percent and 10.9 percent respectively.
"If such a trade growth momentum can sustain, it will greatly relieve concerns of policy-makers over too sharp moderation in China's economy," said Tang Jianwei, an analyst at Bank of Communications. "We expect China will slow the pace in rolling out new stimulus, and strictly control the quality of new measures."
Yesterday, China reported consumer prices rose the least in nearly two years, and industrial production halted a sharp deterioration, indicating the economy may have started to stabilize, although retail sales and fixed-asset investment stayed weak.
The central bank unexpectedly cut the interest rates last Friday, the first since December of 2008 amid fears of a hard landing in the world's second-largest economy.
Exports rose 15.3 percent from a year earlier to US$181.1 billion last month, up sharply from 4.9 percent in April and 8.9 percent in May, the General Administration of Customs said this morning.
Imports increased 12.7 percent to US$162.4 billion, also much quicker than April's 0.3 percent and March's 5.3 percent growth. But it was still a stark contrast with the 39.6 percent surge in February.
May's trade value of US$343.5 billion reached a historical high with both exports and imports producing a new record, the customs said in a statement. Trade surplus stood at US$18.7 billion in May, a bit more than April's US$18.4 billion.
"Trade data were much better than expected," said Xue Jun, an analyst at CITIC Securities Co. "Although the customs did not explain in details, it seemed demand from developed countries has picked up, while emerging markets continued to fare quite well."
Customs data showed trade with the debt-stricken European Union rose 1.3 percent to US$220.8 billion in the first five months, more than the 0.3 percent gain in the January-April period.
Sino-US trade also advanced 12 percent to US$190 billion in the months to May, improving from the 9.2 percent increase in the first four months.
Deals with emerging markets remained solid during the period as shipments with Russia and Brazil jumping 24.4 percent and 10.9 percent respectively.
"If such a trade growth momentum can sustain, it will greatly relieve concerns of policy-makers over too sharp moderation in China's economy," said Tang Jianwei, an analyst at Bank of Communications. "We expect China will slow the pace in rolling out new stimulus, and strictly control the quality of new measures."
Yesterday, China reported consumer prices rose the least in nearly two years, and industrial production halted a sharp deterioration, indicating the economy may have started to stabilize, although retail sales and fixed-asset investment stayed weak.
The central bank unexpectedly cut the interest rates last Friday, the first since December of 2008 amid fears of a hard landing in the world's second-largest economy.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
