China exports pace, imports rebound in December By Investing.com

Investing.com — China saw exports accelerate last month and imports slow recovery. The increase was fueled in part by factories rushing to ship overseas in anticipation of potential trade disruptions under Donald Trump’s presidency. Exports have played a vital role in China’s economic growth, a positive aspect for an economy still struggling with a protracted asset crisis and low consumer confidence.

Customs data released on Monday showed exports rose 10.7% year-on-year in December, beating analysts’ forecasts and November’s figures. Imports also performed better than expected, registering a growth of 1 percent, the strongest performance since July last year. Economists had expected imports to decline.

According to the spokesperson of Chinese customs, China’s imports are likely to increase in the coming year. Analysts noted that last year’s appreciating yuan helped Chinese manufacturers find overseas buyers. In the year By 2024, China’s exports will grow at an annual rate of 5.9%, while imports will increase by 1.1% over the same period.

The much-anticipated US President-elect Donald Trump has proposed heavy tariffs on Chinese goods, raising fears of a possible trade war between the two countries. Beijing is also dealing with long-standing disputes with the European Union over tariffs on Chinese electric vehicles. This issue could affect China’s desire to boost automobile exports and address the concerns of overcapacity in price cuts.

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