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8 June 2017
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| China's trade growth (The Total Investment & Insurance Solutions) |
China's trade growth rebounded in May in a positive sign for global
demand and the cooling Chinese economy.
The Total Investment & Insurance Solutions
Exports rose by a better-than-expected 8.7
percent over a year earlier to $190 billion, up from April's 8 percent growth,
customs data showed Thursday. Imports gained 14.8 percent to $150.2 billion, up
from the previous month's 11.9 percent.
The Total Investment & Insurance Solutions
Unexpectedly strong exports could lend
support to economic growth that is forecast to weaken this year as Beijing
tightens credit controls to reduce the risks of rising debt.
The data show "momentum in demand from
the U.S. and the EU continues to improve," said Louis Kuijs of Oxford
Economics in a report. The Total
Investment & Insurance Solutions
Chinese leaders are trying to steer the
country to self-sustaining growth based on domestic consumption and reduce
reliance on trade and investment but want to avoid politically dangerous job
losses in export-dependent industries. The
Total Investment & Insurance Solutions
Forecasters warned Chinese import demand is
likely to wane as the economy cools. The International Monetary Fund expects
this year's economic growth to decline to 6.6 percent from last year's 6.7
percent and to below 6.2 percent in 2018. The Total Investment & Insurance Solutions
"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," said Julian
Evans-Pritchard of Capital Economics in a report. The Total Investment & Insurance Solutions
"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."
The country's global trade surplus shrank by
18.4 percent from a year earlier to $40.8 billion.
The surplus with the 28-nation European
Union, China's biggest trading partner, expanded by 8 percent from a year
earlier to $10.8 billion. That with the United States widened by 4 percent to
$22 billion.The Total Investment &
Insurance Solutions
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