China September Exports Rise 9%

China's Imports of N. Korean Goods Shrank Nearly 38% in Sept

The world's second biggest economy recorded a trade surplus of CNY193 billion (USD29.3 billion), down from CNY 286.5 billion in August.

China's exports grew 9% year-on-year in September, in yuan terms, an acceleration from the 6.9% gain in August, data released by the General Administration of Customs shows.

Exports rose 8.1 percent, below forecasts of 8.8 percent but the most in three months and handily beating August's 5.5 percent.

China's overseas shipments rose from a year earlier, narrowly missing estimates, the latest sign that Asian trade is holding up on robust external demand and a brighter global outlook. Copper imports were the highest since March.

China's global trade surplus in September shrank 38.6 percent from the same time past year to $28.5 billion.

The value of service imports gained 12.2 percent year on year to 2.13 trillion yuan (more than 320 billion US dollars) in the January-August period, while exports only increased 4.4 percent to 926.69 billion yuan, resulting in a 1.2-trillion-yuan deficit, the Ministry of Commerce (MOC) said Thursday in a statement.

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That left the country with a trade surplus of $28.47bn, less than the near $40bn expected and down from around $42bn in August.

The politically volatile surplus with the United States was $28.1 billion. Imports rose 18.7 percent to $169.8 billion, an improvement from the previous month's 13.3 percent. USA officials have resumed criticizing Chinese policy after President Donald Trump said in April he would temporarily shelve disputes while Washington and Beijing cooperated on North Korea.

China's service imports continued to substantially outvalue exports in the first eight months due to strong domestic demand. China's economy will grow 6.8 percent this year and 6.5 percent next year, also both 0.1 percentage point higher than its July forecasts.

Government measures to cool hot housing prices are also expected to start weighing on property investment and construction.

China is also in the midst of its toughest environmental crackdown ever, ordering many mills, chemical plants and coal companies to sharply reduce output or close in coming months to reduce the country's notoriously thick winter smog.

That translates to 42-49 million tonnes of iron ore consumption, equivalent to about 3 percent of the global seaborne iron ore market, he said.

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