China’s exports in December fell 1.4% year on year, a substantial improvement from November’s 6.8% fall, while imports for the period fell 7.6%, moderating from 8.7% the previous month, Reuters reported, citing data from the country’s customs administration. The balance of trade resulted in a US$60.09 billion trade surplus in December, with crude imports hitting a record high as copper imports reached the second-highest level on record. “The trade data support our view that, despite turmoil in Chinese financial markets, there has not been a major deterioration in its economy in recent months,” Daniel Martin, senior Asia economist at Capital Economics, wrote in a note.
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