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China's foreign trade to grow at a double-digit rate in 2017, says Customs
发布时间: 2017-10-20

CHINA predicts its foreign trade will grow by a double-digit rate this year provided current conditions in the global economy continue, according to the Customs bureau.

 

In September, exports increased by 8.1 per cent compared to the same month a year earlier, while imports beat forecasts, growing 18.7 per cent. That left China with a trade surplus of US$28.47 billion for the month, the General Administration of Customs said.

 

Demand for Chinese products has proven robust as growth in major trading partners holds up, though this trade report also gets a boost from a comparison with a low base last year. The official factory gauge rose to a five-year high in September, and the International Monetary Fund has just raised its global growth forecast as well as its estimate for China.

 

Trade also has improved across Asia. Exports surged to records in September in both South Korea and Taiwan, while August data has shown strengthening in Singapore, Malaysia and Thailand, reported Singapore's The Strait Times quoting Reuters and Bloomberg.

 

"The global economy is doing better," senior China economist Donna Kwok of UBS Group in Hong Kong was quoted as saying in a Bloomberg TV interview.

 

China's trade surplus with the US rose to the highest record for any single month, based on Reuters calculations from the Customs data. The surplus in September rose to $28.08 billion versus $26.23 billion in the previous month.

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