China’s foreign trade is shrinking – FAZ – Frankfurter Allgemeine Zeitung

The financial district in Shanghai

After a short breather in December it is with China’s foreign trade downhill: Both exports and imports of second-largest economy remained in January again below expectations of economists. As the customs authorities in Beijing announced on Monday that exports decreased compared to January of the previous year by 6.6 percent. For imports, it even went up 14.4 percent decline.

The new trade figures suggest one hand indicate a continued lack of domestic demand due to the slower economic activity in the second-largest economy. On the other hand, they show that further decreases the demand from abroad because of a sluggish global economy.

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are at least partially responsible for the poor numbers but also the holidays to the Chinese New Year last week in charge, as the analyst Liu Li-Gang and Louis Lam wrote the Australian bank ANZ on Monday. Many companies have attempted therefore to the most important Chinese holiday to ship their cargo abroad before the start of the long holiday period. Therefore, exports were slightly tightened in December for the first time in nine months, but then fell sharply in January.

Overall, exports in the first month of the year at 1.14 trillion yuan (155 billion euros ). Imports were estimated at 737.5 billion yuan (100.14 billion euros). The trade surplus, ie the difference between exports and imports, thus rose to 406.2 billion yuan (55.16 billion euros).

China had last year with 6.9 percent the weakest economic growth in 25 years recorded. The Beijing government tried to make the growth model of the country. The country’s economy to be less dependent on the future of a strong export industry. For the service sector should be strengthened.

Unlike the foreign trade, the stock markets were the first trading day in “Year of the Monkey” relatively robust. After a week break in trading because of the holidays around the Chinese New Year, the Shanghai Composite Index closed at only 0.6 percent in the red. Besides, many analysts had warned of stark reductions. They expected a catch-up response to last week worldwide collapsing stock markets. In Japan the rates were slumped almost 11 percent during the holidays in China, in Germany the Dax was up 4.5 percent.

Weakest economic growth in China for 25 years

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