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China trade surplus down


11/03/2008

China trade surplus downA fall in exporting business to the US has contributed to a cut in China's trade surplus, according to reports.

The country's government revealed that trade fell by 63 per cent in February compared to the same month last year.

However, commentators are expecting demand to revive in the Chinese exporting and importing market.

For example, Jing Ulrich, JP Morgan's chairwoman of China equities, said: "We expect the export figures to rebound in March, but continue to anticipate a more moderate slowdown in export growth over the course of the year."

The trade surplus fell to $8.6 billion (£4.2 billion), the customs bureau revealed.

Meanwhile, imports surged in February, with China increasing the level of buying from the US by 35 per cent compared to 12 months earlier.

China's trade surplus was last year criticised as "unsustainable" by an EU trade chief.

Peter Mandelson was quoted by the Financial Times as saying that the surplus would add to growing protectionist pressures in western economies.
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