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Strategies & Market Trends : HONG KONG -- Ignore unavailable to you. Want to Upgrade?

To: Ramsey Su who wrote (2046)	8/10/1998 8:56:00 AM
From: Ron Bower	Read Replies (1) \| Respond to of 2951

I have been wavering on the yuan devaluation because of the impact from the Yangtze River floods and the poor performance by the Red Chips, but it seems to me that the prospects for a devaluation dim if China can continue to increase export surplus. FWIW, Ron Monday August 10, 6:18 am Eastern Time China Jan-July trade surplus at $26.71 bln BEIJING, Aug 10 (Reuters) - China registered a trade surplus of $26.71 billion in the first seven months of this year, Xinhua news agency reported on Monday, quoting customs figures. China's trade surplus for July alone was $4.2 billion, the agency said. Exports for the January-July period rose a year-on-year 6.9 percent to $103.1 billion, while imports were up 0.7 percent to $76.39 billion, the report said. Exports in the month of July rose a year-on-year 3.5 percent to $16.16 billion, while imports slipped 6.4 percent to $11.96 billion, the report said. China registered a trade surplus of $22.55 billion in the first half of this year and a surplus of $40.3 billion for all of 1997. Exports grew 20 percent year-on-year last year. Customs authorities said China's exports continued to bounce back in July, following the 1.6 percent increase recorded in June that turned the corner on a 1.5 percent drop in May, Xinhua said. Customs attributed the improvement to adaptations by exporters and to government export promotion policies, including expanded credits and increased export tax rebates, it said. China has ''basically put a brake'' on the rate of decline in exports to financial crisis-torn Southeast Asia, Japan and South Korea and maintained fast export growth to Europe and the United States, it said. It did not give country-by-country figures. -- Beijing Newsroom (86) 10-6532-1921; Fax (86) 10-6532-4978