China imports tumble as exports stabilise in Sept

Beijing

CHINA September exports point to stabilisation while imports tumble. China's trade figures published on Tuesday painted a mixed picture with exports stabilising slightly and imports accelerating their downward trend.

While exports dropped 1.1 per cent in yuan dominated terms in September - less than what economists had expected, imports plunged 17.7 per cent, due to a persistent drop in commodity prices and weak internal demand. In dollar terms exports were down 3.7 per cent and imports 20.4 per cent for September. It is not rare for the Customs bureau to publish figures in both yuan and US dollar terms. The trade surplus for the month reached a record 376.2 billion yuan (S$83 billion), which could be a sign of foreign exchange reserves leaving the country.