Trade data give no spark to key index
By Ye Zhen |
January 11, 2013, Friday
|
Print Edition
Print Edition
TRADE data showing China's foreign trade surged in December did not give a big boost to Shanghai stocks which only edged up yesterday.
The Shanghai Composite Index added only 0.37 percent to 2,283.66 points.
China's exports in December jumped 14.1 percent from a year earlier to US$199.2 billion, while imports climbed 6 percent annually to US$167.6 billion, according to data released yesterday by the General Administration of Customs. China saw a trade surplus of US$31.6 billion in December, up from November's US$19.6 billion, Customs said.
For 2012, Chinese exports gained 7.9 percent to US$2.05 trillion, while imports rose 4.3 percent to US$1.82 trillion. China's foreign trade added 6.2 percent in 2012, below the official target of 10 percent.
"China's trade outperformed other major economies last year against a moderate global economic recovery, weak external demand and downside pressure on the domestic economy," Customs spokesman Zheng Yuesheng said yesterday.
"China's trade is expected to grow at a slightly higher rate in 2013," Zheng said.
Baoshan Iron and Steel Co, China's largest listed steel mill, rose 1.2 percent to 5.03 yuan after the firm said its net profit in 2012 may have surged 39.98 percent annually to 10.3 billion yuan (US$1.7 billion). Inner Mongolia BaoTou Steel Union Co added 3.2 percent to 5.48 yuan.
The Shanghai Composite Index added only 0.37 percent to 2,283.66 points.
China's exports in December jumped 14.1 percent from a year earlier to US$199.2 billion, while imports climbed 6 percent annually to US$167.6 billion, according to data released yesterday by the General Administration of Customs. China saw a trade surplus of US$31.6 billion in December, up from November's US$19.6 billion, Customs said.
For 2012, Chinese exports gained 7.9 percent to US$2.05 trillion, while imports rose 4.3 percent to US$1.82 trillion. China's foreign trade added 6.2 percent in 2012, below the official target of 10 percent.
"China's trade outperformed other major economies last year against a moderate global economic recovery, weak external demand and downside pressure on the domestic economy," Customs spokesman Zheng Yuesheng said yesterday.
"China's trade is expected to grow at a slightly higher rate in 2013," Zheng said.
Baoshan Iron and Steel Co, China's largest listed steel mill, rose 1.2 percent to 5.03 yuan after the firm said its net profit in 2012 may have surged 39.98 percent annually to 10.3 billion yuan (US$1.7 billion). Inner Mongolia BaoTou Steel Union Co added 3.2 percent to 5.48 yuan.
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