Chinese-Dragon
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(Credit to @cirr again for finding this story. 
)
China trade shows signs of recovery - Financial Times
Last updated: August 8, 2013 7:28 pm
By Simon Rabinovitch in Shanghai
China’s exports and imports grew strongly in July, boosting confidence that the economy may be stabilising after a shaky first half of the year.
Exports rose 5.1 per cent year on year, rebounding from a 3.1 per cent drop in June. Imports increased 10.9 per cent year on year, up from a 0.7 per cent fall in June.
Both figures were well ahead of forecasts, pointing to a steadying of the country’s growth outlook after a sharp slowdown in exports and imports over the previous few months. The big jump in imports was especially notable as it is an indication that the Chinese economy is holding up well.
“Stronger domestic investment demand has clearly contributed to the rebound in July imports, as reflected by more strength in import volume of investment goods and raw materials,” said Wang Tao, an economist with UBS.
In recent weeks the Chinese government has stepped up support for the economy with a series of small, targeted measures, including the temporary cancellation of taxes for small businesses. Concerned about the deterioration of exports, Beijing in July said it would also cancel some customs inspection fees and simplify approval procedures.
Liu Ligang, an economist at ANZ, said China was also beginning to catch a tailwind from overseas. “Improving consumer confidence in the US and Europe may help,” he said.
There have been incremental signs that the eurozone could exit its longest recession on record in the second half of this year.
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Great news, our exports and imports are rising massively compared to last year.
)China trade shows signs of recovery - Financial Times
Last updated: August 8, 2013 7:28 pm
By Simon Rabinovitch in Shanghai
China’s exports and imports grew strongly in July, boosting confidence that the economy may be stabilising after a shaky first half of the year.
Exports rose 5.1 per cent year on year, rebounding from a 3.1 per cent drop in June. Imports increased 10.9 per cent year on year, up from a 0.7 per cent fall in June.
Both figures were well ahead of forecasts, pointing to a steadying of the country’s growth outlook after a sharp slowdown in exports and imports over the previous few months. The big jump in imports was especially notable as it is an indication that the Chinese economy is holding up well.
“Stronger domestic investment demand has clearly contributed to the rebound in July imports, as reflected by more strength in import volume of investment goods and raw materials,” said Wang Tao, an economist with UBS.
In recent weeks the Chinese government has stepped up support for the economy with a series of small, targeted measures, including the temporary cancellation of taxes for small businesses. Concerned about the deterioration of exports, Beijing in July said it would also cancel some customs inspection fees and simplify approval procedures.
Liu Ligang, an economist at ANZ, said China was also beginning to catch a tailwind from overseas. “Improving consumer confidence in the US and Europe may help,” he said.
There have been incremental signs that the eurozone could exit its longest recession on record in the second half of this year.
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Great news, our exports and imports are rising massively compared to last year.
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