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Investors’ concerns over China became apparent after Moody's Investors Service downgraded the country’s credit rating last month, saying it expects that the financial strength of the PRC economy will decline in the coming years, as growth slows and debt continues to grow.
In recent months, imports have been very strong, mainly thanks to iron ore and other goods used to increase the construction boom, while exports rebounded due to stronger global demand after several years of reduction.
Nevertheless, analysts expected that the growth of trade turnover in May will decrease, predicting that the economy will gradually lose momentum during the rest of the year, as measures to cool property prices are reducing investment and tightening directed at more risky types of lending are urging financing forward.
However, growth of both exports and imports did not meet these expectations and accelerated compared with April. China's exports in May rose by 8.7% compared to the previous year, while imports increased by 14.8%, official data showed on Thursday.
This left the country with a surplus of trade balance of $ 40.81 billion, said the General Administration of Customs.
Analysts polled by Reuters expected that the growth of supplies from the world's largest exporter in May will be 7%. In April, exports increased by 8%.
It was expected that imports will increase by 8.5% after growing by 11.9% in April.
Analysts expected that China's trade surplus would increase to $ 46.32 billion in May from $ 38.05 billion in April.
China's trade surplus with the US was $ 22 billion in May, compared with $ 21.34 billion in April, according to the China Customs Bureau.
The two largest economies of the world began their 100-day trade talks, which were agreed by US President Donald Trump and Chinese President Xi Jinping when they met in Florida in April to reduce the large trade deficit in Washington with Beijing.
China's Minister of Commerce recently told the new US Trade Representative that both sides should strengthen cooperation and manage trade disputes, the statement said on the website of the Ministry of Commerce of China.
source: nytimes.com
In recent months, imports have been very strong, mainly thanks to iron ore and other goods used to increase the construction boom, while exports rebounded due to stronger global demand after several years of reduction.
Nevertheless, analysts expected that the growth of trade turnover in May will decrease, predicting that the economy will gradually lose momentum during the rest of the year, as measures to cool property prices are reducing investment and tightening directed at more risky types of lending are urging financing forward.
However, growth of both exports and imports did not meet these expectations and accelerated compared with April. China's exports in May rose by 8.7% compared to the previous year, while imports increased by 14.8%, official data showed on Thursday.
This left the country with a surplus of trade balance of $ 40.81 billion, said the General Administration of Customs.
Analysts polled by Reuters expected that the growth of supplies from the world's largest exporter in May will be 7%. In April, exports increased by 8%.
It was expected that imports will increase by 8.5% after growing by 11.9% in April.
Analysts expected that China's trade surplus would increase to $ 46.32 billion in May from $ 38.05 billion in April.
China's trade surplus with the US was $ 22 billion in May, compared with $ 21.34 billion in April, according to the China Customs Bureau.
The two largest economies of the world began their 100-day trade talks, which were agreed by US President Donald Trump and Chinese President Xi Jinping when they met in Florida in April to reduce the large trade deficit in Washington with Beijing.
China's Minister of Commerce recently told the new US Trade Representative that both sides should strengthen cooperation and manage trade disputes, the statement said on the website of the Ministry of Commerce of China.
source: nytimes.com
