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Strategies & Market Trends : Greater China Stocks

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From: Julius Wong	6/10/2012 9:55:23 AM
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China May Export Growth Tops Estimates as U.S. Demand Rises By Paul Panckhurst - Jun 10, 2012 China’s May exports and imports increased at more than double the pace analysts estimated as trade with the U.S. rebounded, supporting growth in the world’s second-biggest economy as domestic demand slows. Overseas shipments climbed 15.3 percent from a year earlier to a record, the Beijing-based customs bureau said today, exceeding all 29 forecasts in a Bloomberg News survey. Imports rose 12.7 percent compared with estimates for a 5.5 percent gain. The trade surplus also beat projections. The data indicate Europe’s debt woes have yet to produce a collapse in world trade on the scale of the 2008 global recession, even as Spain’s request for a bank bailout threatens to deepen the crisis. Stronger exports may prompt Premier Wen Jiabao to be more measured in rolling out stimulus even as weaker-than-estimated output and retail sales data yesterday bolster the case for loosening. “This shows it’s not all doom and gloom,” Song Seng Wun, an economist with CIMB Research Pte in Singapore, said after the trade figures were released. “Growth momentum may be slowing, but it’s not about to crash.” China cut interest rates three days ago as the government counters the effects of Europe’s debt crisis and seeks to engineer a resurgence in an economy that JPMorgan Chase & Co. predicts will grow at the slowest pace since 1999. bloomberg.com

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