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在线翻译:
szdaily -> Business
Imports beat forecasts but exports engine slows
    2017-September-11  08:53    Shenzhen Daily

CHINA posted stronger-than-expected import growth in August, reinforcing views that the world’s second-largest economy is still expanding at a healthy pace despite tighter policy.

China’s imports grew 13.3 percent from a year earlier, official data showed Friday, handily beating analysts’ forecast of 10 percent and accelerating from an 11-percent pace in July.

Purchases of industrial commodities continued to lead the way as soaring steel prices boost Chinese mills’ appetite for high-quality foreign iron ore to feed a year-long construction boom.

“The strong import data suggest that domestic demand may be more resilient than expected in the second half to less accommodative monetary policy,” said Louis Kuijs at Oxford Economics in a note, referring to a clampdown on riskier forms of lending which is pushing up borrowing costs.

Exports showed signs of softening, however, with growth cooling to 5.5 percent from a year earlier, roughly in line with analysts’ forecasts for a 6-percent increase but down from 7.2 percent in July.

Export growth was the slowest since shipments fell in February, but analysts don’t foresee a protracted slowdown for the world’s largest exporter as global demand still appears solid.

Global manufacturing activity also expanded strongly in August, adding to views that demand was holding up in the current quarter.

China’s electronics exports, which tend to be higher-value and higher-margin goods, increased 7.4 percent in August, while textile and apparel shipments fell by the single digits.

The mixed performance left China with a trade surplus of US$41.99 billion for August, the General Administration of Customs said, the lowest since May.

Analysts were expecting China’s trade surplus to have widened to US$48.6 billion in August from July’s US$46.73 billion.

The growth of China’s exports to the United States at 8.4 percent in August was the slowest pace since a decline in February, while its imports of U.S. goods rose 18.1 percent from a year ago after a 24.2 percent jump in the previous month.

Shipments to the European Union rose only 5.2 percent in August, the second straight month of declining growth, while exports to Southeast Asia grew at a faster rate.

August saw China with its largest surplus with the United States, China’s largest export market, since September 2015 at US$26.2 billion, up from US$25.2 billion in July.

Improving global demand, particularly for electronics, has boosted exports for China and other trade-reliant Asian economies this year.

Fueled by strong government infrastructure spending, generous bank lending and improving exports, China’s resilience has surprised investors and analysts so far this year.

First-half economic growth surged to 6.9 percent, which should provide enough momentum to easily meet or beat the government’s full-year growth target of around 6.5 percent.

(SD-Agencies)

 

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