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| Version 1 | Version 2 |
|---|---|
| China reports mixed trade figures | China reports mixed trade figures |
| (35 minutes later) | |
| China has reported better than expected growth in imports for December, helping cushion concerns of a weaker than forecast rise in exports. | China has reported better than expected growth in imports for December, helping cushion concerns of a weaker than forecast rise in exports. |
| Imports jumped 8.3% from a year earlier indicating strong domestic demand. | Imports jumped 8.3% from a year earlier indicating strong domestic demand. |
| Exports rose by a weaker than expected annual rate of 4.3%. That marked a slowdown from the 12.7% annual growth in November. | Exports rose by a weaker than expected annual rate of 4.3%. That marked a slowdown from the 12.7% annual growth in November. |
| Analysts said that while exports had weakened, strong domestic demand would help sustain growth in China's economy. | Analysts said that while exports had weakened, strong domestic demand would help sustain growth in China's economy. |
| "This indicates that domestic demand is not as soft as had been feared, and the Chinese economy - while decelerating - is unlikely to see a sharp slowdown," said Dariusz Kowalczyk, an economist with Credit Agricole CIB in Hong Kong. | "This indicates that domestic demand is not as soft as had been feared, and the Chinese economy - while decelerating - is unlikely to see a sharp slowdown," said Dariusz Kowalczyk, an economist with Credit Agricole CIB in Hong Kong. |
| "The data is positive for China and Asia sentiment as it alleviates concerns that China is slowing too sharply." | "The data is positive for China and Asia sentiment as it alleviates concerns that China is slowing too sharply." |
| Government support | |
| For the full year, China's exports rose at an annual rate of 7.9% in 2013. | |
| The export and manufacturing sectors have been key drivers of China's growth for decades. | |
| However, a slowdown in demand from key markets impacted their growth rate in recent years. | |
| As a result, China's policymakers have announced various steps aimed at sustaining growth in these sectors. The measures include tax breaks for small businesses and reduced fees for exporters. | |
| Analysts said the measures, coupled with a recovery in markets such as the US, were likely to help lift exports in the current year. | |
| "We expect exports to show further recovery in 2014, but the magnitude would be small and at around 10%," said Sun Junwei, China economist at HSBC in Beijing. |