China's December exports, imports better than market forecasts

[SHANGHAI] China's exports in December rose 9.9 per cent from a year earlier, while imports fell 2.3 per cent, better than market expectations and cushioning pressure on the domestic economy from rising debt levels and a soft property sector.

That left the country with a trade surplus of 304.5 billion yuan (S$65.6 billion) for the month, the Customs Administration said on Tuesday.

Economists polled by Reuters had estimated exports in December to accelerate to 6.8 per cent from a year earlier from 4.7 per cent in November, while imports were forecast down 7.4 per cent, following a 6.7 per cent drop in November.

The official percentage change figures were based on yuan, whereas previous changes were calculated on a dollar basis.

REUTERS