China records historic trade surpluses in July - exceeds expectaitons for 2022 first half year

[Telugodura456]

https://www.bloomberg.com/news/articles/2022-08-07/china-s-export-growth-beats-expectations-offering-support#xj4y7vzkg

China’s Trade Surplus at Record as Exports Beat Expectations

• Nation’s trade balance climbed to about $101 billion in July
• Exports grew 18%, beating economists’ estimates for 14.1% gain

Bloomberg News

August 6, 2022 at 11:23 PM EDTUpdated onAugust 7, 2022 at 2:01 AM EDT

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China’s trade surplus rose to a record as exports grew faster than expected, easing some concerns over waning global demand and providing support for an economy battling sporadic Covid outbreaks and property woes.

The nation’s trade balance climbed to about $101 billion in July, surpassing the previous record set in June, according to government figures released Sunday. That’s the highest in data compiled since 1987. Exports in dollar terms grew 18% from a year earlier, beating economists’ estimates for a 14.1% gain.

“The strong export growth continues to help China’s economy in a difficult year as domestic demand remains sluggish,” said Zhang Zhiwei, president and chief economist at Pinpoint Asset Management. Robust growth boosts confidence in the yuan exchange rate, which helps deter capital outflows, he said. 

China’s imports rose by 2.3%, compared with a 1% gain in June. That was lower than the median estimate for an increase of 4%, indicating weak domestic demand. Inbound shipments of commodities including soybeans, natural gas and copper declined on a monthly basis. Crude imports climbed, however.

 

 

 

Exports have been an important factor in China’s growth during the pandemic. But rising external uncertainties -- including a slowing global economy and high inflation within developed countries -- suggest their contribution to the economy this year will weaken. That complicates the picture for a country that’s already under tremendous strain.

 

China’s Slowdown Spills Over to Major Economies Through Imports

China’s economy continued to rebound in July from Covid outbreaks and restrictions as bottlenecks in production and logistics eased further. Still, the recovery remained fragile, weighed down by a slowdown in the property sector, still-weak domestic demand and fresh virus flareups.

At a Politburo meeting last month, authorities said the country should strive for “the best outcome” possible for economic growth in 2022, releasing a statement that didn’t explicitly refer to the growth target of “around 5.5%,” which economists think is out of reach.

The same week as that meeting, China’s top leaders told government officials that the goal should serve as guidance rather than a hard target that must be hit, according to people familiar with the matter.

— With assistance by John Liu, Lin Zhu, and Sarah Chen

(Recasts top to show trade surplus at record.)

[Telugodura456]

what is the status on atomburbur (aka atmanirbhar) @ZoomNaidu @Android_Halwa @Spartan

 

[kevinUsa]

5 minutes ago, Telugodura456 said:

what is the status on atomburbur (aka atmanirbhar) @ZoomNaidu @Android_Halwa @Spartan

 

Atmanirbhar slogan flag is made in china  

Most of the bjp marketing materials ckem from china

[ZoomNaidu]

2 hours ago, Telugodura456 said:

what is the status on atomburbur (aka atmanirbhar) @ZoomNaidu @Android_Halwa @Spartan

 

Be realistic, pratheedhaanni nee konda yerrifuk yedupu tho chudaku ! 
 

Good cause tho start chesaadu, it will take time ! 

[bhaigan]

2 hours ago, kevinUsa said:

Atmanirbhar slogan flag is made in china  

Most of the bjp marketing materials ckem from china

Even Tiranga flags are made in China 

[YOU]

16 minutes ago, bhaigan said:

Even Tiranga flags are made in China 

sir 60+ years evadi chilli chicken Congi gallu? 

 

[bhaigan]

34 minutes ago, YOU said:

sir 60+ years evadi chilli chicken Congi gallu? 

 

mee atma nirbhar bharat emi ayindo cheppu

[YOU]

4 hours ago, bhaigan said:

mee atma nirbhar bharat emi ayindo cheppu

Sare inko 50 years thatrvatha kanipinchu cheptham 

[Android_Halwa]

5 hours ago, bhaigan said:

mee atma nirbhar bharat emi ayindo cheppu

Defense exports chusinava ? 
 

Nut bolt kuda import chesinaru…we started exporting now. Although it’s still in nascent phase but it was zero pre-2014.