china’s imports fall slows in may
Last Updated : GMT 20:27:03
Arab Today, arab today
Arab Today, arab today

China’s imports fall slows in May

Arab Today, arab today

Arab Today, arab today China’s imports fall slows in May

China’s imports fall slows in May
Beijing - Arab Today

China’s imports decreased at their slowest pace in more than a year-and-a-half in May, official data showed Wednesday, in a possible sign domestic demand in the world’s second-largest economy may be recovering.
The country is a key driver of world growth and its demand for commodities has enormous implications for resource-rich nations from Australia to Nigeria.
China’s imports have been shrinking since late 2014 as the country’s once blistering expansion lost steam, slowed down by manufacturing overcapacity, a slowing property market and mounting debt.
But the year-on-year drop of 0.4 percent in May imports marked the slowest rate of decline since October 2014, when they grew 4.6 percent, customs data showed.
The results were also well ahead of the Bloomberg News median forecast of a 6.8 percent decrease based on a poll of economists.
“Recovering commodity prices and relatively resilient domestic demand are driving a recovery in import growth,” Julian Evans-Pritchard, an analyst with research firm Capital Economics, said in a note.
The value for May imports stood at $131.1 billion, according to the Chinese customs office.
The improvement in imports is likely to last for the remainder of this year and “return to positive territory before long” partly because “the continued feed-through from earlier policy easing helps to prop up domestic demand,” said Evans-Pritchard.
However, exports fell 4.1 percent last month from a year ago to $181.1 billion, following a 1.8 percent decline in April and leaving a trade surplus of just under $50 billion, the figures showed.

The key export sector has shown year-on-year declines for eight of the past 10 months as the country’s economic growth has fallen to its slowest level in a quarter of a century.
Steel and aluminum exports continued to rise by volume in May, as the international community takes Beijing to task over concerns that it is flooding the market with the commodities.
China’s steel exports increased 20 percent last year to 112 million tons, a record high, and in May rose 2.4 percent year-on-year to 9.4 million tons, official data showed.
China shipped 420,000 tons of aluminum last month, up 2.4 percent on year, according to the customs.
The increases come as countries around the world blame China for a supply glut that has left industry in Europe and elsewhere in turmoil.
As part of its promised reforms, the government has listed reducing overcapacity and excess inventory and cutting down borrowing as top priorities, with the country’s ailing steel industry a key target.
But foreign governments say they have seen little movement toward implementing its promises to tackle the problem.
The issue was a major sticking point at a key annual meeting between the US and China this week, where American treasury secretary Jack Lew said Chinese steel and aluminum production has had a “distorting and damaging effect on global markets,” an accusation angrily denied by his Chinese counterpart.
Washington has punished Beijing with harsh tariffs, most recently in March, when it slapped a 300 percent rate on the cold rolled steel used to make auto parts.
The EU, the second-biggest steel producer, has launched a dumping probe into Chinese steel, with angry manufacturers urging it to mirror the US’s tough tariffs.

Source: Arab News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

china’s imports fall slows in may china’s imports fall slows in may

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

china’s imports fall slows in may china’s imports fall slows in may

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Banyan Tree Phuket Takes Festive Season

GMT 01:34 2017 Friday ,17 November

Banyan Tree Phuket Takes Festive Season
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Top Democrat faces investigation

GMT 09:50 2017 Friday ,17 November

Top Democrat faces investigation
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today Angola oil boss sacked by father's protege

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Urban, young and active?

GMT 11:01 2017 Thursday ,16 November

Urban, young and active?
Arab Today, arab today Ayten Amer happy for “The Flood” success

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success
Arab Today, arab today Unloved vultures fight for their survival

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 08:21 2017 Tuesday ,14 November

Nelly Karim focuses on humanitarian roles

GMT 09:23 2017 Wednesday ,15 November

Years melt away as Bening & Bell play unlikely lovers

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 13:40 2017 Monday ,13 November

Pollution spikes in Delhi amid warnings

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 10:55 2017 Thursday ,16 November

UN warns fuel running out

GMT 01:04 2017 Wednesday ,15 November

In Morocco, a blue tourist town

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday