China's declining trade points to more stimulus measures ahead
Beijing may resort to additional monetary and fiscal stimulus measures to boost GDP growth in 2016
Beijing
CHINA's exports fell for a fourth straight month and imports matched a record stretch of declines, signalling that the mounting drag from slower global growth will push policymakers towards expanding stimulus.
Overseas shipments dropped 6.9 per cent in October in dollar terms, the customs administration said on Sunday, a bigger decline than estimated by all 31 economists in a Bloomberg survey. Weaker demand for coal, iron and other commodities for China's declining heavy industries helped drag imports down 18.8 per cent in dollar terms, leaving a record trade surplus of US$61.6 billion. This surplus is a 36 per cent increase compared with the same period in 2014 and the highest such figure since at least 1995.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Biden’s plan to hit China with more tariffs is mostly symbolic
Sterling rises after UK economy beats expectations and exits recession
China’s car exports hit record high in April, as domestic sales fall
UK exits recession with fastest growth in nearly three years
Europe’s rush for rate cuts shifts global market power away from US
China’s push for greener aluminium hit by erratic rains, power cuts