A 34% surge in exports to Hong Kong compared with levels a year ago has revived worries among analysts at some banks of over-invoicing and over-reporting, Bloomberg reported. A discrepancy between Hong Kong data for imports from China and Chinese figures for exports to the territory has in the past highlighted these practices being use in diguising capital inflows banking on a rise in China’s currency. After yesterday’s data showed China’s exports had increased 15.3% from a year earlier – the biggest increase since February 2013 – economists at Everbright Securities, Australia & New Zealand Banking Group and Bank of Communications suggested signs of distortion may have re-emerged in trade data.
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