皇冠体育app

Statistics

皇冠体育app's Sept export growth slows

(Xinhua)
Updated: 2010-10-13 11:06

皇冠体育app's exports rose 25.1 percent in September from a year earlier to $144.99 billion, but the pace of growth slowed from August's 34.4-percent surge, the General Administration of Customs (GAC) said on Wednesday.

The country's imports rose 24.1 percent year on year to reach record $128.11 billion last month, with the growth rate down 11.1 percentage points from that in August.

皇冠体育app's foreign trade in the first nine months totaled $2.15 trillion, a year-on-year increase of 37.9 percent, the GAC said in a statement on its website.

皇冠体育app's trade surplus for September dropped 15.7 percent month on month to stand at $16.88 billion, a five-month low, the GAC said.

Zhang Yansheng, an international trade researcher at the National Development and Reform Commission, said 皇冠体育app's recent import-conducive policies contributed to robust growth in imports.

皇冠体育app's September imports increased 7.4 percent month on month, according to the GAC.

Concerning September's export performance, Zhang said the appreciation of the yuan, 皇冠体育app's currency, as known as the renminbi, had taken a toll on the country's export-oriented companies. The Chinese central bank pledged on June 19 to increase the flexibility of the yuan exchange rate.

The value of yuan hit a new high against US dollar on?Wednesday with the central parity rate of the yuan set at 6.6693 per US dollar

Based on Wednesday's central parity rate, the Chinese currency has strengthened against the US dollar by about 2.32 percent since the People's Bank of 皇冠体育app's (PBOC) pledge.

Related readings:  皇冠体育app's August exports up 34.4%, imports rise 35.2%  皇冠体育app to upgrade exports by boosting low-carbon sector  皇冠体育app should increase high tech exports  Wen says 皇冠体育app never pursues surplus in trade

Tang Min, vice secretary-general of the 皇冠体育app Development Research Foundation, said the decline in the growth rate of exports in September was normal considering the fading in the effects of stimulus measures of various nations.

However, 皇冠体育app's exports will continue to grow as demand from developed countries remains strong and world economy will not experience a double dip recession, said Li Jian, a research fellow at the Research Institute of the MOC.

皇冠体育app's trade surplus for the first nine months totaled $120.6 billion, down 10.5 percent from the same period last year.

Trade with the European Union, 皇冠体育app's largest trade partner, jumped 34.4 percent year on year to $349.49 billion in the January-September period, the GAC said.

Trade with the United States climbed 31.5 percent to $278.54 billion during the period while that with Japan rose 32.2 percent to $214.46 billion.

Trade with ASEAN countries surged 43.7 percent year on year to $211.31 billion in the first three quarters, it said.