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December trade data lift Shanghai shares
By Ye Zhen |
January 10, 2013, Thursday
|
Online Edition
Online Edition
SHANGHAI stocks advanced today, boosted by trade data that showed China's exports and imports surged in December.
The Shanghai Composite Index rose 0.37 percent to 2,283.66 points with a daily turnover of 98.2 billion yuan (US$15.8 billion).
China's exports in December jumped 14.1 percent from a year earlier to US$199.2 billion, while imports climbed 6 percent to US$167.6 billion, according to data released today by the General Administration of Customs.
Robust exports pushed China's trade surplus to US$31.6 billion in December, up from November's US$19.6 billion, the administration said.
Last year, Chinese exports expanded 7.9 percent to US$2.05 trillion, while imports increased 4.3 percent to US$1.82 trillion. The nation's foreign trade rose 6.2 percent in 2012, short of the official target of 10 percent.
"China outperformed other major economies in trade last year against a backdrop of slow global recovery, weak external demand and downside pressure on domestic economy," administration spokesman Zheng Yuesheng told a press briefing today.
"China's trade is expected to grow at a higher rate in 2013 as the world's major economies have applied stimulus measures to prevent further slowdown in global economy," Zheng said.
Baoshan Iron and Steel Co, China's largest listed steel mill, rose among steelmakers, adding 1.2 percent to 5.03 yuan after the company said its net profit may have increased 39.98 percent year on year to 10.3 billion yuan in 2012.
Inner Mongolia Baotou Steel Union Co gained 3.2 percent to 5.48 yuan. Fushun Special Steel Co climbed 4.5 percent to 5.32 yuan.
The Shanghai Composite Index rose 0.37 percent to 2,283.66 points with a daily turnover of 98.2 billion yuan (US$15.8 billion).
China's exports in December jumped 14.1 percent from a year earlier to US$199.2 billion, while imports climbed 6 percent to US$167.6 billion, according to data released today by the General Administration of Customs.
Robust exports pushed China's trade surplus to US$31.6 billion in December, up from November's US$19.6 billion, the administration said.
Last year, Chinese exports expanded 7.9 percent to US$2.05 trillion, while imports increased 4.3 percent to US$1.82 trillion. The nation's foreign trade rose 6.2 percent in 2012, short of the official target of 10 percent.
"China outperformed other major economies in trade last year against a backdrop of slow global recovery, weak external demand and downside pressure on domestic economy," administration spokesman Zheng Yuesheng told a press briefing today.
"China's trade is expected to grow at a higher rate in 2013 as the world's major economies have applied stimulus measures to prevent further slowdown in global economy," Zheng said.
Baoshan Iron and Steel Co, China's largest listed steel mill, rose among steelmakers, adding 1.2 percent to 5.03 yuan after the company said its net profit may have increased 39.98 percent year on year to 10.3 billion yuan in 2012.
Inner Mongolia Baotou Steel Union Co gained 3.2 percent to 5.48 yuan. Fushun Special Steel Co climbed 4.5 percent to 5.32 yuan.
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