World’s second largest economy joins South Korea, Germany, Taiwan with higher than expected exports
BEIJING – China's export and import growth in the January-February period beat forecasts, suggesting global trade is turning a corner in an encouraging signal for policymakers as they try to shore up a stuttering economic recovery.
Hence, China's trade surplus grew to $125.16 billion, compared with a forecast of $103.7 billion in the poll and $75.3 billion in December. Chinese Premier Li Qiang on Tuesday announced a 2024 economic growth target similar to last year of around 5pc and promised to transform the country's development model, which is heavily reliant on exporting finished goods and industrial overcapacity.Policymakers have been grappling with sub-par growth over the past year amid a property crisis with reduced consumer spending, divestment by foreign firms, manufacturers struggling for buyers, and a huge local government debt burden.
"After accounting for changes in export prices and for seasonality, we estimate that export volumes rose significantly in January and February, hitting a fresh high," said Zichun Huang, China economist at Capital Economics, in a note.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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