China exports growth at 8-month high, imports defy pollution curbs

China’s raw material futures slumped on Thursday led by iron ore and coking coal contracts. Above Iron-ore stockpiles at a Chinese port

The latest figures beat most economists' forecasts and add to evidence that strengthening global and domestic demand is helping shore up China's economic growth.

Export growth also beat, lifting by 12.3% over the same period in U.S. dollar terms, a sharp improvement on the 6.9% level of October and forecasts for an increase of 5%.

But he also warned of risks from US-China tensions, as the trade gap between the two broke $25bn for the sixth straight month.

Chinese trade data continues to impress with annual import and export growth, along with the nation's trade surplus, beating expectations in November.

Yuan-denominated imports rose 15.6 percent year-on-year in November, which produced a trade surplus of 263.6 billion yuan. The median forecast was $34.2bn.

The data suggests trade may remain robust as cuts this winter spur the world's second-largest economy to source more product from overseas as domestic output slides.

The continued widening is expected to trigger more protectionist moves. Economists have estimated that China's nonmarket status, which makes it easier for trading partners to impose tariffs, has cost its businesses billions of dollars in exports.

Also in November, the USA made a decision to impose anti-dumping duties on Chinese aluminium foil.

China reported strong growth Friday in both exports and imports in November in a reassuring sign for the world's second-biggest economy. The rise was larger than the poll's forecast for a 12.0% gain.

The numbers may help to ease concerns of slowing momentum in Asia's economic powerhouse, which had surprised markets with robust growth of almost 6.9 percent in the first nine months of this year, thanks to a government-led infrastructure spending spree and unexpected strength in exports.

"However, we are sceptical that the strength of imports can be sustained given that the delayed impact of policy tightening and a cooling property market are set to weigh on Chinese demand for commodities in coming quarters", he said in a note.

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