China's Exports Rise Less Than Forecast

Reuters

Chinese exports rose for the second consecutive month in April, official data showed on Monday, boosted by improving global demand, but at a slower pace than in the previous month.

May 8 China's exports denominated in yuan rose 14.3 percent in April from a year earlier, the General Administration of Customs said on Monday.

Nonetheless, the overall trade surplus widened to USD38.05 billion in April.

China's large trade surplus with the United States has drawn criticism from U.S. President Donald Trump.

As a result, the trade surplus totaled CNY 262.3 billion.

Even at a reduced pace, however, exports are expected to contribute to growth in the world's second-largest economy this year as demand for technology products expands in the US and Europe.

The April data comes on the heels of China's strong export figures for March, when shipments delayed by the January-February Lunar New Year holiday rebounded.

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"The slower-than-expected growth in April's imports partly reflected the impact of tightening regulations on firms' financing costs and growth expectations", said Deng.

The bank said it expects the economy to grow 6.8% year-on-year in the second quarter, compared to 6.9% in the first three months of 2017. Foreign trade is expected to face a better environment in 2017 compared with the past two years, it said.

Earlier this month, the USA reported that its trade deficit was at its narrowest in months but rising imports of Chinese cellphones and telecoms gear pushed the trade gap with China higher.

"Exports should continue to grow steadily this year", Mr. Cai said, adding that he sees less of a threat of higher US import tariffs on Chinese goods, a possibility Mr. Trump has mentioned.

Imports were expected to have climbed 18 percent, after rising 20.3 percent in March.

Beijing China's import growth slowed faster than expected in April, as inbound shipments of commodities such as iron ore and copper weakened, while export growth more than halved, in line with a general cooling in demand for electronic gadgets.

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