Daily Management Review

Chinese economy starts to feel better


04/14/2016


In March, China's exports showed the most significant growth over the last year, by 11.5%, to $ 160.8 billion. Imports continued to decline, but the fall has slowed down. It fell in March by 1.7%. According to experts, such a growth in exports is one of the evidence of stabilization of the Chinese economy.



Daderot
Daderot
According to official data released on Wednesday, China's exports rose in March by 11.5% in dollar terms to $ 160.8 billion. This is the most significant export growth over the past year. Chinese imports has been falling for the 17th consecutive month, while in March it slowed somewhat - it decreased by 7.6%, to $ 131 billion RMB. Export growth was 18.7%, while imports decreased by 1.7%. Exports to the US rose in this period by 9%, in the EU - 17.9%. In March, steel exports from China increased significantly by 30% to 9.98 million tons. After the publication of these data, the Chinese index Shanghai Composite Index rose 1.4%, up to a maximum of the last three months’ values.

According to experts, the growth of exports is one more proof of the stabilization of the situation in the Chinese economy. As stated by a Hong Kong-based economist of Natixis SA Iris Pan: "It looks really very encouraging." However, in her opinion, it’s too early to conclude that the worst times for China's exports are over: "We need more evidence that the entire production sector is developing normally again." As stated by an analyst at Bank of Shanghai China Merchants Bank Liu Donliang: "The sharp drop in trade is coming to an end, but how sustainability of this recovery is still in question. These data reflect an improvement in the external market demand, rising raw material prices and a recovery in domestic demand. " At the end of March, China's National Statistics Office (NSO) reported that the total profit of China's industrial enterprises in January-February of this year grew by 4.8% and amounted to 780.7 trillion yuan ($ 119.8 billion). This is the most significant growth during the last 18 months.

According to some experts, the growth of exports in March is reflecting mainly seasonal variations. Thus, in February, China's exports fell by 25% since this period spanned the vacation week of to the Chinese New Year. "The results are largely obliged to seasonal factors in the period of the year. Export is weak and is likely to remain so in the coming months ", - said the founder of Silk Road Associates research firm Ben Simpfendorfer.

source: bloomberg.com






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