Year-on-year gains in Chinese exports and imports in November

Sergio Conner
December 8, 2017

China has reported strong growth in both exports and imports in November in a reassuring sign for the world's second-biggest economy.

Exports rose 10.3 per cent in November in yuan terms, the customs administration said Friday. The surplus was forecast to fall to USD35.0 billion from about USD38.2 billion in October.

Meanwhile, China's exports of unwrought aluminium and aluminium products rebounded in November after four straight months of declines.

As global demand has surprised with its strength, consumers have lapped up Chinese goods at a rapid rate this year, giving the economy a boost and providing policy makers room to tighten rules to curb high-risk lending.

Unwrought copper imports for the first 11 months of 2017 were still down 5 percent on a year earlier at 4.24 million tonnes, customs said.

Exports are growing amid a global tech boom ahead of the holiday season, they said.

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While the war on pollution had been expected to reduce raw materials imports, Friday's trade numbers showed commodity imports rebounded last month.

The trade surplus, a source of tension with major trade partners, came in at $40.2 billion, down from $43.1 billion a year earlier but more than the median projection of $35 billion.

Iron ore imports also lifted, jumping to 94.54 million tonnes from 79.49 million tonnes in October.

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

Chinese copper smelters such as Tongling Nonferrous Metals Group cut back production last month to comply with environmental protection measures. Economists had forecast exports to grow 2% and imports to rise 12.5%.

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