* China’s trade climbs in Sept amid bottoming-out

“One swallow does not a summer make”  But it sure is reassuring after all the bad news in recent months.  There are also signs in the US that the 2008 recession is finally bottoming out. Let’s hope it’s for real. And even more importantly, let’s hope both nations and individuals don’t get carried away with getting into deep depth, again.

China Daily: “China’s exports significantly expanded in September while imports resumed growth after a decline in August, suggesting a recovery in overseas markets and a moderate improvement of domestic demand amid a bottoming-out in the world’s second largest economy.

Economists and analysts are still cautious about China’s foreign trade outlook owing to the medium and long-term pressure from the festering EU debt crisis and worrisome fiscal outlook in the US despite improvement in overseas demand.

China’s exports increased by 9.9 percent in September from a year earlier, a record monthly high and much higher than the 2.7-percent growth in August. Imports, meanwhile, stepped out of the 2.6-percent fall in August, registering a gain of 2.4 percent in September, according to data from the General Administration of Customs on Saturday.

Total foreign trade in September grew by 6.3 percent year-on-year while the trade surplus widened to $27.67 billion from $26.7 billion in August.

Foreign trade from January to September went up by 6.2 percent from a year earlier with exports rising 7.4 percent and imports gaining 4.8 percent, yielding a trade surplus of $148.31 billion.

“The full year is likely to see a trade surplus of over $200 billion,” said Wang Jun, a senior economist with China Center for International Economic Exchanges.

“Trade figures of September are relatively satisfactory. China’s exports in the coming two or three months will keep up the momentum as the manufacturing index [also known as the purchasing managers index, or PMI] improves in the US and EU, in addition to Christmas demand and the central government’s measures to boost China’s foreign trade,” Wang said.

The State Council introduced a raft of measures in September to stabilize trade growth, including speeding up export tax rebates, reducing administrative costs for companies, lowering financing costs for small and micro-sized enterprises and increasing credit to exporters.”

via China’s trade climbs in Sept amid bottoming-out |Economy |chinadaily.com.cn.


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