China's exports increase 5.9pc in August while imports rise

Time: 2016-09-28 13:37
CHINA's foreign trade picked up in August on the back of stronger domestic and external demand. Yuan-denominated exports increased 5.9 per cent, while imports were up 10.8 per cent year on year.
Although trade data in August suggests an improving trend, China should not be "blindly optimistic" on its outlook, and further measures are needed to stabilise growth, Ministry of Commerce spokesman Shen Danyang said at a press conference.
Foreign trade fell 1.8 per cent in the first eight months of the year compared to the same period a year earlier, with exports declining one per cent and imports down 2.9 per cent, reported Xinhua.
Against a backdrop of flagging trade growth worldwide, protectionism is on the rise, Mr Shen said that in the first eight months of the year, China was subject to 85 trade remedy probes, an increase of 49 per cent year on year. The probes involved trade of US$10.32 billion, an increase of 94 per cent year on year.
"Relentlessly resorting to trade remedies won't help economic recovery," said Mr Shen. "China is willing to resolve the disputes through dialogue and cooperation to create a better environment for growth."
In Hangzhou earlier this month, leaders of the G20 members agreed to promote growth by devising a strategy for global trade and developing guiding principles for global investment policy-making.
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