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Chinese December exports up 9.7pc while imports rise 2.4pc
CHINA's December exports posted a 9.7 per cent year-on-year increase while imports dropped 2.4 per cent, according to data from the General Administration of Customs, Reuters reports.
"Today's data means China抯 export sector remains one of the world's best performing," wrote Julian Evans-Pritchard, China economist at Capital Economics, in a research note.
"Although the global economy remains fragile, we nonetheless expect growth in many of China's key export markets, such as the US, to stage a slight recovery this year, which should provide support to Chinese exports," he said.
The export rise was attributed to a stronger US economy, which helped offset weakness in Europe and Japan, while Chinese commodities purchases abroad slowed a decline in imports.
China imported 30.37 million tons of crude oil in December, or 7.15 million barrels per day (bpd), topping the 7 million bpd mark for the first time, customs data showed, as the world's largest oil importer took advantage of slumping global prices to fill its strategic reserves.
Economists believe full-year 2014 growth may fall short of the government's 7.5 per cent target. Some believe Beijing will set a less ambitious goal of seven per cent for 2015 as the housing downturn continues.
Trade value in 2014 increased by 3.4 per cent year on year, falling short of the official target of 7.5 per cent.
"Today's data means China抯 export sector remains one of the world's best performing," wrote Julian Evans-Pritchard, China economist at Capital Economics, in a research note.
"Although the global economy remains fragile, we nonetheless expect growth in many of China's key export markets, such as the US, to stage a slight recovery this year, which should provide support to Chinese exports," he said.
The export rise was attributed to a stronger US economy, which helped offset weakness in Europe and Japan, while Chinese commodities purchases abroad slowed a decline in imports.
China imported 30.37 million tons of crude oil in December, or 7.15 million barrels per day (bpd), topping the 7 million bpd mark for the first time, customs data showed, as the world's largest oil importer took advantage of slumping global prices to fill its strategic reserves.
Economists believe full-year 2014 growth may fall short of the government's 7.5 per cent target. Some believe Beijing will set a less ambitious goal of seven per cent for 2015 as the housing downturn continues.
Trade value in 2014 increased by 3.4 per cent year on year, falling short of the official target of 7.5 per cent.
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