Subscribe to our free daily newsletters
  Energy News  

Subscribe to our free daily newsletters

Chinese exports, imports beat forecasts but analysts wary
by Staff Writers
Beijing (AFP) June 8, 2017

China on Thursday posted a forecast-busting surge in exports and imports in May, signalling improvement in the world's number two economy, but there were warnings Beijing would struggle to maintain its momentum.

The readings will come as a relief after a series of weak readings suggesting a recent pick-up could be fizzling, while there are also lingering concerns about US President Donald Trump's protectionist rhetoric.

Exports rose 8.7 percent on-year to $191 billion while imports jumped 14.8 percent to $150.2 billion.

The data were far better than the 7.2 percent rise in exports and 8.3 percent increase in imports predicted by analysts in a survey by Bloomberg News. The trade surplus rose to $40.8 billion, up $2 billion from April.

The news comes as the global economy also shows signs of strength.

However, Julian Evans-Pritchard, China economist at Capital Economics, said the government's efforts to rein in the country's ballooning debt could weigh on future trade data.

"Looking ahead, the current strength of imports is unlikely to be sustained if, as we expect, slower credit growth feeds through into weaker economic activity in the coming quarters," he warned.

"Exports growth is also likely to edge down further ahead but should fare better than imports given the relatively upbeat outlook for China's main trading partners," he said.

China had been showing signs of life in early in the year, fuelling hopes the world's top trader in goods and a key driver of global growth was stirring after a years-long growth slowdown.

- Too early for optimism -

However, other figures have pointed to slowing growth in the Chinese economy as it deals with weaker demand and excess industrial capacity left over from a debt-fuelled infrastructure boom.

Imports and exports picked up at a weaker rate in April from March, while a private survey of factory activity indicated the manufacturing sector contracted in May for the first time in almost a year, hinting at deteriorating conditions for producers.

Industrial output, retail sales and fixed-asset investment also hit the brakes, data showed last month.

"It's still too early to be optimistic on China's imports. The outlook for fixed asset investment and infrastructure construction will be key," said Betty Wang at ANZ Research in a note.

"While May's better-than-expected trade data may provide a boost to market sentiment amid tighter financial regulation, it's premature to draw any solid conclusion."

Authorities have been trying to clean up the country's toxic brew of unregulated and risky lending that for years has fuelled the economy's spectacular growth, though some analysts doubt its willingness to quit its debt addiction.

Worries about rising debt levels led agency Moody's to last month slash China's credit rating for the first time in almost three decades.

China's economy expanded last year at its weakest rate in more than a quarter of a century and Beijing has indicated it expects growth to slow further this year.

Weak growth is a major concern for stability-obsessed policymakers and it complicates their efforts to retool the economy into one driven by consumer demand rather than state investment and exports.

The transformation has been rough at times and China is hoping that its much-vaunted Belt and Road infrastructure project will provide a new source of growth.

Trade row blocks EU-China climate statement: EU source
Brussels (AFP) June 2, 2017
The EU and China failed Friday to formally endorse a joint statement on the Paris climate deal due to a lingering but separate trade row, a European source said. The EU source said leaders from both sides had no problem with on the climate issue as both sides want to boost efforts to implement the 2015 Paris agreement following President Donald Trump's decision to pull Washington out of the ... read more

Related Links
Global Trade News

Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Contributor
$5 Billed Once

credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly

paypal only

Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks DiggDigg RedditReddit GoogleGoogle

India vows to 'go beyond' Paris accord, adding pressure on Trump

US states, cities and firms unite behind Paris accord

US may do less harm outside climate pact than in it: analysts

China further opens energy sector to private investment

Electrocatalyst nanostructures key to improved fuel cells, electrolyzers

'Instantly rechargeable' battery could change the future of electric and hybrid automobiles

Printed, flexible and rechargeable battery can power wearable sensors

Nanoalloys 10 times as effective as pure platinum in fuel cells

ADB: Asia-Pacific growth tied to renewables

GE Energy Financial Services Surpasses $15 Billion in Renewable Energy Investments

U.S. states taking up wind energy mantle

Scientists track porpoises to assess impact of offshore wind farms

Replacing coal with solar can save lives and money

New low-cost material for lighting and diagnostics produces white light imitating sunlight

Artificial transpiration for solar water purification

Paris withdrawal sets business world at odds with Trump

A new twist on the origin of uranium

Nuclear-wary Japan restarts another atomic reactor

Three Mile Island nuclear plant to close in 2019

Why nuclear could become the next 'fossil' fuel

Newly identified gene helps time spring flowering in vital grass crops

Splitting carbon dioxide using low-cost catalyst materials

Cold conversion of food waste into renewable energy and fertilizer

Nagoya University researchers break down plastic waste

Oil production in the Gulf of Mexico shows resilience

Gas-rich Russia next to ponder impact of Qatari dust-up

Some bearish trends setting in for crude oil

Supply and demand factors leave U.S. gas prices stable

World leaders vow to defend climate pact after Trump pullout

Climate science: Bad news gets worse

Cape Town cuts back to survive worst drought in 100 years

Climate: What is the Paris Agreement?

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement