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Xinyuan Real Estate Co., Ltd. Message Board

  • horacebello horacebello Jul 10, 2013 11:13 AM Flag

    China confirming lower exports and imports (good notice for longs in southern view)

    China's exports fell for the first time in a year and a half
    China's exports fell 3.1% in June from a year earlier, in its first decline since January 2012, while imports fell by 0.7%, contrary to the expectations of the market and reinforcing the signs of an economic slowdown in the second quarter.

    The disappointing trade data are known after the government's campaign against the use of false export documents to close a loophole for inflows of short-term money had exaggerated the Chinese export sector performance.

    Economists had expected exports to grow by 4.0 percent and imports 8.0 percent increase last month.

    China's exports to the United States, the largest market for the products of the country, fell 5.4 percent in June from a year earlier, while exports to the European Union fell 8.3 percent pro, according to data customs.
    "The surprisingly weak June exports show that China's economy faces growing downward pressure on an opaque external demand," said Li Huiyong, an economist at Shenyin & Wanguo Securities in Shanghai.

    "Exports face challenges in the second half of this year. The appreciation of the U.S. dollar and the Chinese government's recent steps against speculative trading activities also put pressure on exports," he added.

    China had a trade surplus of U.S. $ 27,100 million in June, the customs administration said in a press conference, in line with the 27.000 billion expected by economists.

    China trade data are volatile and suffer distortion by the flow of speculative capital from the country's borders.

    Doubts about the accuracy of the encrypted have declined slightly since the Bureau of Customs and international trade regulator in May launched a campaign against misrepresentations exports.

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