Economic Recovery Helps China Expand Trade

Despite economic volatility, China's export sales rose 48.5% to US$131.76 billion and imports jumped 48.3% to US$112.23 billion, exceeding forecasts of 32% and 44.7% growth, respectively, reports the South China Morning Post.

 

Barclays Capital Asia economist Peng Wensheng told the Post that while the latest trade figures are a positive sign for China, "the adverse impact of the European debt problem and the weakening euro has yet to surface. It may take three to four months to show the real impact on China's exports."

 

The Post notes that Europe is still the largest buyer of Chinese products, contributing about 20% of China's overseas shipments in the first five months of this year.

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