Arab Today, arab today china\s trade surplus widens to 1305 bn in may
Last Updated : GMT 11:25:35
Arab Today, arab today
Arab Today, arab today

China\'s trade surplus widens to $13.05 bn in May

Arab Today, arab today

Arab Today, arab today China\'s trade surplus widens to $13.05 bn in May

Beijing - AFP

China\'s politically sensitive trade surplus expanded to $13.05 billion in May from the previous month as the value of exports hit a new record high, government data showed Friday. The trade surplus a major bugbear for China\'s key trade partners, the United States and Europe was bigger than the $11.4 billion recorded in April but sharply lower than a Dow Jones Newswires forecast for $18.6 billion. Exports growth slowed last month, rising 19.4 percent year-on-year to $157.16 billion but still a record high for a single month based on previous data customs authorities said in a statement. Imports gathered pace, soaring 28.4 percent from a year earlier to $144.11 billion. In April, exports rose 29.9 percent to $155.7 billion while imports increased 21.8 percent to $144.3 billion. Analysts said the strong data should ease concerns that the world\'s second largest economy is slowing sharply. \"I still think overall we are seeing some moderation in growth in China but this strengthens my view that we are not seeing a hard landing,\" Royal Bank of Canada senior strategist Brian Jackson told AFP. The data showed economic woes in the United States and Europe were not having a big impact on China\'s exports while the acceleration in imports indicated higher commodity prices had not led to \"demand destruction\" in China, he said. The slowdown in economic growth could see China\'s currency strengthen at a slower pace in the coming months, said Citigroup economist Ken Peng. China tightly controls the value of its currency despite promising last June to let it trade more freely against the dollar, since when it has appreciated more than five percent. But critics argue the yuan is undervalued by as much as 40 percent and gives Chinese exporters an unfair advantage. On Friday, the central bank set the yuan central parity rate the midpoint of the currency\'s allowed trading band at 6.4853 to the dollar, weaker than Thursday\'s rate of 6.4830. Beijing has been pulling on a variety of levers to cool the economy, which grew 9.7 percent in the first quarter, as stability-obsessed leaders fret that high inflation and soaring house prices could trigger social unrest. There are growing signs the measures are bearing fruit China\'s manufacturing activity expanded at the slowest pace in 10 months in May and year-on-year auto sales fell in May for the second straight month. Analysts have played down concerns about a sharp slowdown for the Asian powerhouse due to persistent government efforts to stem a flood of credit into the economy and tame inflation, which is hovering above five percent. \"This is still just a moderation rather than a meltdown in growth so there is no need to worry about over-tightening,\" HSBC China economist Qu Hongbin said earlier this month. \"Beijing is likely to keep tightening mainly through reserve ratio and rate hikes in the coming months.\" China has already hiked interest rates and increased the amount of money banks must keep in reserve numerous times in recent months yet inflation has gathered pace. A raft of key economic data to be released Tuesday is expected to show inflation accelerated to 5.5 percent in May, higher than April\'s 5.3 percent and well above the government\'s annual target of four percent.

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*

Arab Today, arab today china\s trade surplus widens to 1305 bn in may Arab Today, arab today china\s trade surplus widens to 1305 bn 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*

Arab Today, arab today china\s trade surplus widens to 1305 bn in may Arab Today, arab today china\s trade surplus widens to 1305 bn in may

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Italy regions back 'big bang' autonomy

GMT 07:10 2017 Monday ,23 October

Italy regions back 'big bang' autonomy
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Iraq's Barzani isolated by his drive

GMT 04:36 2017 Tuesday ,24 October

Iraq's Barzani isolated by his drive
Arab Today, arab today Maltese demand justice for murdered

GMT 06:08 2017 Monday ,23 October

Maltese demand justice for murdered
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Lost Australia diver swam miles

GMT 19:09 2017 Monday ,23 October

Lost Australia diver swam miles
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 EU targets German carmakers

GMT 05:41 2017 Tuesday ,24 October

EU targets German carmakers
Arab Today, arab today Tesla to build wholly-owned plant

GMT 07:55 2017 Monday ,23 October

Tesla to build wholly-owned plant
Arab Today, arab today Sherine Reda frustrated of latest terrorist attacks

GMT 09:03 2017 Monday ,23 October

Sherine Reda frustrated of latest terrorist attacks
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'

GMT 08:12 2017 Saturday ,21 October

Donia Abdel Aziz aspires to return to cinema

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 05:27 2017 Monday ,23 October

Travel plea for conjoined twins

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 08:06 2017 Tuesday ,24 October

Second Palestinian mobile provider enters Gaza

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
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