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China reports surprise jump in trade balance
China’s trade balance rose against expectations in December thanks to a jump in exports. The nation’s exports climbed for the first time since June last month, beating forecasts with figures that could lead to talk about how a weaker yuan may be helping support the economy.
According to trade figures just released by the National Bureau of Statistics, in renminbi, December exports rose 2.3 per cent, against forecasts they would fall 4.1 per cent. Imports tumbled only 4 per cent, against expectations for a 7.9 per cent fall.
The 2.3 per cent rebound in exports marks the first year-on-year gain since June and the biggest climb since February. The 4 per cent decline in imports is the smallest contraction of 2015.
As a result, the trade surplus was Rmb382.1bn ($58bn), far higher than forecasts, though below a recent peak in October.
The improvement on all fronts comes at a time when international investors are increasingly concerned about a slowdown in China. These figures could go some way in alleviating those fears, but they could just as well underscore worries that the data is being massaged.
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