Sunday 8 September 2013

China's exports rise 7.2 % in August

China's exports rose 7.2 percent year on year to 190.61 billion U.S. dollars in August, according to customs figures released on Sunday.
The growth rate was 2.1 percentage points higher than July.
Imports also rose last month, gaining 7 percent to 162.09 billion U.S. dollars, the General Administration of Customs said in a statement.
Total foreign trade grew 7.1 percent in August over the same month in 2012 to 352.7 billion U.S. dollars, said the statement.
Trade surplus widened by 8.4 percent year on year to 28.52 billion U.S. dollars last month, the highest since January this year.
Chinese authorities have exempted all outbound goods, transport vehicles and containers from inspection and quarantine fees from Aug. 1 to Dec. 31 this year.
Meanwhile, the government has pledged consistency and stability of its macroeconomic policies. Added to this, there has been a proactive fiscal policy and a prudent monetary policy.
In August, imports and exports with the European Union, China's largest trade partner, rose 3.2 percent, while that with the United States, China's second-largest trade partner, rose 9.2 percent.
Trade with ASEAN (Association of Southeast Asian Nations) members increased 13.3 percent. Trade with Japan shrank 6 percent during the period.
Mei Xinyu, a foreign trade expert at the Ministry of Commerce, said that European and U.S. economies recovered with increasing demand, while Chinese companies were given an extra competitive edge by macro stability at home.
Sunday's data showed that exports of electronics and machinery products grew by 6.7 percent to reach 106.45 billion U.S. dollars in August, accounting for 55.9 percent of total exports.
China's manufacturing sector saw a strong recovery last month, offering further signs that the world's second-largest economy is moving out of the shadows of a protracted slowdown.
Data from China Federation of Logistics and Purchasing showed that the sub-index for new export orders in August jumped to a 16-month high of 52.4 percent, which is convincing evidence of a strong recovery.
Source: Xinhua

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