This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-34513044
The article has changed 3 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| China's imports down 17.7% in yuan-denominated terms | China's imports down 17.7% in yuan-denominated terms |
| (about 1 hour later) | |
| China's September imports fell a more-than-expected 17.7% in yuan-denominated terms, while exports fell 1.1% from a year earlier, official figures show. | China's September imports fell a more-than-expected 17.7% in yuan-denominated terms, while exports fell 1.1% from a year earlier, official figures show. |
| The numbers leave the country with a trade surplus of 376.2bn yuan ($59.4bn; £38.8bn). | The numbers leave the country with a trade surplus of 376.2bn yuan ($59.4bn; £38.8bn). |
| The steep fall in imports compares with a fall of 14.3% in August and continues to reflect lower commodity prices globally. | The steep fall in imports compares with a fall of 14.3% in August and continues to reflect lower commodity prices globally. |
| China recently revised down its 2014 economic growth from 7.4% to 7.3%. | China recently revised down its 2014 economic growth from 7.4% to 7.3%. |
| The revision marks its weakest growth for almost 25 years. After decades of double-digit growth, the government is expecting to see growth of about 7% in 2015. | The revision marks its weakest growth for almost 25 years. After decades of double-digit growth, the government is expecting to see growth of about 7% in 2015. |
| Domestic-led growth | Domestic-led growth |
| China is attempting to shift from an export-led economy to a consumer-led one. | China is attempting to shift from an export-led economy to a consumer-led one. |
| Exports in September held up better than expected, after some had forecast a fall of as much as 7%. | Exports in September held up better than expected, after some had forecast a fall of as much as 7%. |
| However, the significant fall in imports means domestic demand is not as strong as the government would have hoped. | |
| China's official trade numbers in US dollar denominated terms were reported shortly after the yuan-denominated numbers. | |
| They showed exports fell a less-than-expected 3.7% in September, while imports slumped 20.4% from a year earlier. The numbers leave the country with a surplus of $60.34bn for the month - which the government said was higher than expected. | |
| Currency conversion factors based on US dollar and Chinese yuan movements over the last year mean some official numbers from the mainland are now reported in both currencies. | Currency conversion factors based on US dollar and Chinese yuan movements over the last year mean some official numbers from the mainland are now reported in both currencies. |