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Peking – Disappointing trade figures in December darken the prospects for a hoped-for recovery of economic growth in China. Exports fell in US Dollar terms, better-than-expected 6.1 percent compared to the same month last year, the customs said in Beijing.
The imports increased by 3.1 percent, which was mainly explained by the replenishment of inventories prior to the early Chinese new year at the end of January. The volume of foreign trade decreased in December by 2.2 percent.
calculated On the year, the largest trading nation experienced even a decline in their volume of trade by 6.8 percent. The conditions in the past year, customs spokesman Huang song-ping described as “complicated and grim” with growing uncertainties. Only in the second half of the year, the foreign trade had stabilized by the support of the government and higher demand.
After a minimum rise in November, the surprisingly strong decline in exports in December but showed new weaknesses. Throughout the year, the exports were in US dollars rating of 7.7 percent compared to the previous year, while imports decreased by 5.5 percent. The trade surplus decreased according to the duty imposed last year by 9.1 percent to 3.35 trillion Yuan, equivalent to 486 billion U.S. dollars.
In Yuan expected the development was, however, moderate. Exports fell, according to customs data, therefore, to two percent, while imports rose even to 0.6 per cent. The Chinese currency is under pressure and has lost in the past year against the US Dollar by about six percent. The trading volume in Yuan is expected to total only 0.9 percent.
The poor foreign trade, the Yuan weakness and the resulting flight of capital, the high level of debt and the threat of trade disputes with the United States under the new President Donald Trump are among the main risks for the second-largest economy this year.
“We are concerned that trump’s attitude towards China’s trade weakens, Chinese exports in the long term, structurally,” wrote the Australian ANZ Bank. Under the new US President, American organization of production are likely to remove equipment from China.
The export figures in December also indicated that China hinke behind the recent recovery of exports from Asia as a whole, wrote the ANZ experts. Therefore, the prospects for China’s trade, published in the new year will not be rosy. The exports from Asia due to weak global demand and growing resistance to globalisation would continue to be under pressure.
Despite the weak external trade, China’s expected economic planner for the past year with a growth of 6.7 percent, but as little as 25 years. The Numbers are at 20. January presented. The growth in China was mainly due to the booming housing market, rising infrastructure spending and strong credit growth driven.