China logs strong exports, imports, as economy gains steam

AFP  Getty Images

AFP Getty Images

China's exports grew for a ninth straight month in November and at a faster pace, as external demand for goods from the world's second-largest economy remained solid, while growth in its demand for imports remained in double digits.

Exports rose 10.3 per cent in November in yuan terms, the customs administration said Friday.

Chinese trade data continues to impress with annual import and export growth, along with the nation's trade surplus, beating expectations in November. Coal imports grew marginally, rising from 22.05 million tonnes from 21.28 million tonnes.

Besides ramped-up efforts to reduce winter pollution, authorities unveiled fresh regulatory measures last month for the financial sector, clamping down on high-risk lending and halting some dubious infrastructure projects that would swell local governments' debt.

Customs is expected to release dollar-denominated trade data later on Friday.

In volumes terms, imports of copper, crude oil, iron ore and coal all rose from a month earlier.


Iron ore imports "were not necessarily just by steel mills but could have been also purchased by traders", said Helen Lau at Argonaut Securities in Hong Kong.

Steel exports rose from the previous month to 5.35 million tonnes in November, data showed.

Imports had been expected to rise 11.3 per cent, softening from an 17.2 per cent gain seen in October, with the trade surplus forecast at $35.0 billion last month from October's $38.185 billion.

"Chinese trade looks to have been surprisingly strong last month".

The latest figures beat most economists' forecasts and add to evidence that strengthening global and domestic demand is helping shore up China's economic growth.

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