China's trade rebounds, easing concerns
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E-mail China.org.cn, August 9, 2013
China's trade rebounded in July with both exports and imports seeing positive growth, suggesting recovery of demands in major economies.
China's exports went up 5.1 percent year on year to 185.99 billion U.S. dollars in July, recovering from a tumble in June, according to data issued on Thursday.
Imports also rebounded in July, gaining 10.9 percent to 168.17 billion U.S. dollars, the General Administration of Customs said in an online statement.
Total foreign trade grew 7.8 percent in July over a year earlier to 354.16 billion U.S. dollars, recording a year-on-year decline of 2 percent in June.
The trade surplus narrowed by 29.6 percent year on year to 17.82 billion U.S. dollars in July, as import gains outpaced export gains.
Global stock markets responded positively to China's data as shares jumped in Sydney, Seoul, Hong Kong and European cities on Thursday.
The Chinese economy recorded its worst performance in 13 years in 2012, with GDP expanding 7.8 percent. Growth dipped to 7.7 percent in the January-March period and slowed further to 7.5 percent in the second quarter.
The July trade figures soothed worries that China's economy may experience a hard landing.
Last Friday, the State Council announced 12 measures to boost exports, reflecting its intention to support growth amid concerns the country was losing its competitive edge.
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