• Thursday, August 22, 2019

China's January trade surplus with the US widened by 31.2 percent: customs data

Discussion in 'World Affairs' started by TaiShang, Feb 14, 2019.

  1. TaiShang

    TaiShang ELITE MEMBER

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    14-Feb-2019

    China's January foreign trade beats forecasts
    CGTN


    [​IMG]


    China's January dollar-denominated exports climbed 9.1 percent and imports edged down 1.5 percent from a year earlier, beating their forecasted results, fresh data from the General Administration of Customs showed Thursday.

    https://news.cgtn.com/news/3d3d674d32676a4e32457a6333566d54/index.html
     
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  2. TaiShang

    TaiShang ELITE MEMBER

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    China's January trade surplus with the US widened by 31.2 percent: customs data

    Source:Global Times Published: 2019/2/14

    China-US exports growth slows in January, while imports decline speeds up

    China's export growth to the US slowed in January compared with December, while the imports slide widened, indicating a bleak trade picture between the two largest economies, which have been embroiled in a months-long trade dispute.

    Senior representatives from both nations have tried to solve the disputes through negotiations, a domestic economist told the Global Times on Thursday.

    China's imports from the US edged down by 38.6 percent year-on-year to 63.7 billion yuan ($9.4 billion) in January, compared with a 2.3 percent yearly decline in December. In terms of exports, China exported 279.4 billion yuan worth of goods to the US in January, up by 1.9 percent year-on-year, but slowing from the 8.6 percent growth seen in the previous month, according to data revealed by the General Administration of Customs on Thursday.

    China's January trade surplus with the US widened by 31.2 percent to hit 188.4 billion yuan, according to the data.

    The sliding exports growth and widening imports decline not only show that the uncertainties of the China-US trade situation is forcing the market to take risk aversion measures, but also reflects that China's dependence on US trade is sliding, Bai Ming, deputy director of the MOFCOM's International Market Research Institute, told the Global Times.

    According to Bai, the China-US trade cooperation framework has not been irreparably damaged so far.

    "But if there's no solution to the two countries' trade row in the near future, there's a possibility that the China-US trade platform and industrial chain could be harmed, which will hurt the bilateral trade relations to a greater extent than at present," he said.

    Some analysts are being more optimistic about the prospects of the China-US trade status. In a report Zhongtai Securities sent to the Global Times on Thursday, China has decided to increase the export rebate rate on certain products, which will support exports to a certain extent.

    Zhongtai analysts also stressed that China's policies to strengthen imports would also lend support to future import growth.

    http://www.globaltimes.cn/content/1138804.shtml
     
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  3. beijingwalker

    beijingwalker ELITE MEMBER

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  4. Dungeness

    Dungeness SENIOR MEMBER

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    China foreign direct investment climbs in January
    Published: Feb 14, 2019 2:53 a.m. ET

    BEIJING--China's foreign direct investment rose 2.8% in January from a year earlier, to $12.41 billion, the Commerce Ministry said Thursday.

    Last month's growth slowed sharply from a 23.2% increase in December.

    In yuan terms, foreign direct investment rose 4.8% in January, with investment from U.S. companies more than doubling, the ministry said.

    https://www.marketwatch.com/story/china-foreign-direct-investment-climbs-in-january-2019-02-14

    :rofl::rofl::rofl:
     
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  5. TaiShang

    TaiShang ELITE MEMBER

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    Looks like US business does not buy much into the nationalistic rhetoric by the US government.
     
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  6. oprih

    oprih BANNED

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    Make the trade surplus in favor of China great again!
     
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  7. TaiShang

    TaiShang ELITE MEMBER

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    Trump's 2020 slogan is Keep America Great.

    I think we can live with that.
     
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  8. TaiShang

    TaiShang ELITE MEMBER

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    Export statistics achieving rebound

    By ZHONG NAN | China Daily | Updated: 2019-02-15

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    Containers carrying goods for export are seen in Qingdao Port, East China's Shandong province, on Oct 19, 2018. [Photo/VCG]

    China's exports and imports returned to growth trajectories in January thanks to timely policies promoting steady trade growth and the country's growing demand for industrial materials and commodities, officials and analysts said on Thursday.

    The country's two-way trade in goods surged 8.7 percent year-on-year to 2.73 trillion yuan ($395.98 billion) in January, the General Administration of Customs said on Thursday.

    Exports rose 13.9 percent year-on-year to 1.5 trillion yuan last month, while imports grew 2.9 percent to 1.23 trillion yuan.

    China's opening-up efforts and pro-trade policies along with accelerated industrial upgrading and improved corporate vitality will provide steam for the country's trade performance this year, said Chu Shijia, director-general of the comprehensive department of the Ministry of Commerce.

    Bai Jingming, vice-president of the Chinese Academy of Fiscal Sciences, said China's individual income tax reforms and measures to support private companies can further stimulate growth potential for both imports and exports in 2019.

    The monthly tally was partly spurred by the fact that many companies rushed to complete orders before the weeklong Spring Festival, which fell earlier than usual this year, said Wen Bin, chief researcher at China Minsheng Bank.

    China's exports recorded a mere 0.2 percent growth in December, while imports slumped 3.1 percent.

    "The significant growth in exports in January, despite ongoing uncertainties created by trade tensions, also reflects that the tenacity of China exports is improving along with its structure," Wen said.

    The growth of China's exports to the European Union jumped 20.5 percent year-on-year in January. The growth of China's exports to the United States also jumped 1.9 percent from same period a year earlier.

    China's exports of mechanical and electrical products grew 11.5 percent year-on-year to 857.51 billion yuan in January, making up 57.1 percent of the country's total exports.

    "China has already stopped focusing on the growth of its trade volume, and pays more attention to added value, brand building and structural optimization, so that the country can realize a transformation from being a big trading nation to a strong one," said Xue Rongjiu, deputy director of the Beijing-based China Society for WTO Studies.

    Imports of crude oil, coal, natural gas and plastics maintained swift growth in January.

    Wang Zhi, director of the Research Center of Global Value Chains at the University of International Business and Economics in Beijing, said that the vigorous growth of energy and resources product imports has benefited from domestic market demand and eased resource constraints in economic development.

    http://www.chinadaily.com.cn/a/201902/15/WS5c65f2d0a3106c65c34e96bc.html
     
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  9. Dungeness

    Dungeness SENIOR MEMBER

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  10. Mista

    Mista SENIOR MEMBER

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    Trading of goods is just one side of the equation. If you want to know how much foreign money you're 'making', you have to look at current account which includes trading of services and net investments returns, both of which China are in deficit.

    Anyway China's current account for last year is out.

    China's 2018 current account stays in reasonable surplus range
    Source: Xinhua| 2019-02-15 18:52:51
    BEIJING, Feb. 15 (Xinhua) -- China's current account stayed in a reasonable surplus range in 2018, official data showed Friday.

    The country's current account registered a surplus of 49.1 billion U.S. dollars last year thanks to robust surplus growth in the last quarter, according to the State Administration of Foreign Exchange (SAFE).

    http://www.xinhuanet.com/english/2019-02/15/c_137824897.htm

    China's current account surplus remains reasonable in 2017
    Source: Xinhua| 2018-03-30 00:09:38|
    BEIJING, March 29 (Xinhua) -- China's current account surplus remained within a reasonable range last year, the country's foreign exchange regulator said Thursday.

    The current account surplus stood at 164.9 billion U.S. dollars in 2017, accounting for 1.3 percent of GDP, according to the State Administration of Foreign Exchange (SAFE).

    http://www.xinhuanet.com/english/2018-03/30/c_137075325.htm