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China's foreign trade up 12.6% in November

Xinhua | Updated: 2017-12-08 13:21
Containers are seen at Yangshan Deep Water Port, part of the Shanghai Free Trade Zone, in Shanghai, Feb 13, 2017. [Photo/Agencies]

BEIJING — China's foreign trade saw robust growth in November, with both imports and exports beating expectations, official data showed Friday.

Exports in yuan-denominated terms rose 10.3 percent year on year to 1.43 trillion yuan ($216 billion), according to the General Administration of Customs.

Imports expanded 15.6 percent to 1.17 trillion yuan, leaving a trade surplus of 263.6 billion yuan.

In November, total foreign trade volume rose 12.6 percent year on year to 2.6 trillion yuan.

In the first 11 months, foreign trade volume rose 15.6 percent from a year earlier to 25.14 trillion yuan.

The export data was well above forecast, and was mainly a result of increased overseas consumption as the holidays draw near, according to Deng Haiqing, an analyst with JZ Securities.

Customs data reflected the improved trade structure. In the first 11 months, general trade expanded 18.1 percent year on year to 14.18 trillion yuan, accounting for 56.4 percent of total trade volume.

Trade of private enterprises grew 16.9 percent to 9.68 trillion yuan in the first 11 months, accounting for 38.5 percent of the total, and 0.4 percentage points higher than the same period last year.

Despite rising protectionism and anti-globalization sentiment, China's imports and exports with major trade partners remained strong.

During the first 11 months, trade with the European Union gained 16.2 percent year on year to 3.78 trillion yuan, accounting for 15 percent of the total. Trade with the United States expanded 16.5 percent to 3.58 trillion yuan, accounting for 14.2 percent of the total.

Customs data also showed that a leading indicator for China's exports rebounded from 41.6 to 41.8 month on month in November, signalling positive potential in exports.

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