China's Exports Rise to Support Economy Amid Property Downturn
Bloomberg News
China's exports rose more than estimated in September and imports rebounded as global demand helps underpin growth in the world's second-largest economy.
Exports increased 15.3 percent from a year earlier, the Beijing-based customs administration said today, compared with the 12 percent median estimate in a Bloomberg News survey of analysts. Imports rose 7 percent, against projections for a 2 percent decline, leaving a trade surplus of $31 billion.
China is benefiting from a U.S. recovery, bolstering an economy weighed down by a property slump and slowdown in industrial-output growth. Analysts forecast China's expansion this year will moderate to 7.3 percent, the slowest since 1990, and to 7 percent in 2015.
'The U.S. economy is trending better and that improves external demand,' Wen Bin, a researcher at China Minsheng Banking Corp. in Beijing, said before today's data release. 'China's exports are expected to stay healthy.'
The increase in exports follows a previously reported 9.4 percent jump in August and compares with analysts' estimates for gains ranging from 7.7 percent to 16.6 percent. The median projection for imports was a 2 percent drop, after a 2.4 percent decline in August. The trade surplus was forecast at $41.1 billion, following a record $49.8 billion in August.
The economy probably grew 7.2 percent last quarter, the slowest in more than five years, based on the median estimate of analysts surveyed by Bloomberg in September. Gross domestic product data are scheduled to be released on Oct. 21.
Central bank Governor Zhou Xiaochuan said over the weekend that the economy 'will continue to expand at a steady pace.'
While expediting spending, boosting infrastructure building and relaxing property curbs, Premier Li Keqiang has refrained from broad-based stimulus, saying China prefers reform to boost the economy.
To contact Bloomberg News staff for this story: Xiaoqing Pi in Beijing at xpi1@bloomberg.net
To contact the editors responsible for this story: Malcolm Scott at mscott23@bloomberg.net Scott Lanman
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