China reported a 10.8 percent rise in exports and a 18.7 percent jump in imports — both in yuan terms — for 2017.
That news, announced Friday by the General Administration of Customs, comes ahead of dollar-denominated trade data later in the day.
The world’s second-largest economy posted broadly strong data for 2017 on the back of a broad global recovery. That was despite-wide ranging concerns about the Chinese economy, including high debt levels, asset bubbles and a slowdown in industrial sectors.
Economists polled by Reuters expected dollar-denominated exports to rise 9.1 percent from a year ago in December, slowing from the 12.3 percent growth in November.
Dollar-denominated import growth, meanwhile, is seen at 13 percent in December against a 17.7 percent growth in November, the economists forecast. Trade balance is forecast to be $37 billion in December against $40.21 in November.
Trade with China is politically sensitive as the world’s second-largest economy runs surpluses against many of its trading partners.
U.S. President Donald Trump has repeatedly signaled tougher action on what he calls unfair practices that have lead to a massive trade deficit with China.
Reuters reported last week that China will keep its target for economic growth at “around 6.5 percent” in 2018 —the same as in 2017.
This is a breaking news story. Check back for updates.
Source: cnbc china
China's 2017 exports rose 10.8% in yuan terms — imports jumped 18.7%