Hot money likely boosted China January export figures

China’s trade data for January showed unexpected strong export and import growth, beating economists’ predictions but the data, published by the Customs Bureau on Wednesday, raised concerns over large inflows through inflated trade deals, South China Morning Post reported. Exports grew to 10.6% year-on-year from a 4.3% year-on-year in December. Imports grew faster than 8.3% in the previous month. China’s trade surplus grew to US$31.86 billion from US$29 billion a year earlier. Liu Ligang, head of Greater China economy at ANZ Bank, said, “The surge in exports is likely a result of large inflows of hot money into the mainland betting on yuan appreciation.”