China's export growth hits eight-month high

Posted by Daily Shipping Times on 11-12-2017        Tweet

BEIJING  - China’s exports and imports unexpectedly accelerated last month in an encouraging sign for the world’s second-biggest economy, though analysts expect growth to continue cooling amid a Government crackdown on financial risks and polluting factories.

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.

Exports in November rose 12.3 percent year-on-year, the fastest pace in eight months, led by strong sales of electronics and high-tech goods, while commodity purchases helped lift imports.

Imports grew 17.7 percent year-on-year in November, the General Administration of Customs said recently also well above expectations of 11.3 percent growth and rising at the fastest pace since September.

The numbers may help to ease concerns of slowing momentum in Asia’s economic powerhouse, which had surprised markets with robust growth of nearly 6.9 percent in the first nine months of this year, thanks to a Government-led infrastructure spending spree and unexpected strength in exports.