Chinese exports, imports beat expectations in June

AFP, BEIJING: Growth in Chinese exports and imports outstripped expectations in June, official data showed yesterday, but analysts warned the pick up could be temporary.

The world’s second-largest economy is expected to lose momentum in the second half as Beijing clamps down on free-wheeling credit and property purchases that have been key drivers of growth for years.

“We still expect export growth to slow in the second half of 2017 on stronger RMB (yuan) so far this year and uncertainties in external demand,” said Yang Zhao, chief China economist at Nomura.

“The cooling property market leads to slower domestic investment growth, which may weigh on import growth as well.”

Exports rose 11.3 per cent from a year ago to $196.59 billion, the customs administration said, topping a Bloomberg News forecast of 8.9 per cent.

 

Chinese exports, imports beat expectations in June

AFP, BEIJING: Growth in Chinese exports and imports outstripped expectations in June, official data showed yesterday, but analysts warned the pick up could be temporary. The worlds second-largest economy is expected to lose momentum in the second half as Beijing clamps down on free-wheeling credit and property purchases that have been key drivers of growth for years. We still expect export growth to slow in the second half of 2017 on stronger RMB (yuan) so far this year and uncertainties in external demand, said Yang Zhao, chief China economist at Nomura. The cooling property market leads to slower domestic investment growth, which may weigh on import growth as well. Exports rose 11.3 per cent from a year ago to $196.59 billion, the customs administration said, topping a Bloomberg News forecast of 8.9 per cent.