China's exports rise 7.2 percent

By Indo Asian News Service | Sunday, September 08, 2013 | 5:26:07 PM IST (+05:30 GMT) Comment 0 Comment

Beijing, Sep 8 (IANS) China's exports rose 7.2 percent year-on-year to $190.61 billion in August, according to customs figures released Sunday.

Beijing, Sep 8 (IANS) China's exports rose 7.2 percent year-on-year to $190.61 billion in August, according to customs figures released Sunday.

The growth rate was 2.1 percentage points higher than July, reports Xinhua.

Imports also rose in this month, gaining 7 percent to $162.09 billion, the general administration of customs said in a statement.

The total foreign trade grew 7.1 percent to reach $352.7 billion in August as compared to the same month in 2012, said the statement.

The figures also revealed the trade surplus widened by 8.4 percent year-on-year to $28.52 billion, the highest since January this year.

Zhang Liqun, a researcher at the Development Research Centre of the State Council, said the improvement in exports was related to a stable yuan and government policies.

Chinese authorities have exempted all outbound goods, transport vehicles and containers from inspection and quarantine fees (at customs) from Aug 1 to Dec 31 this year.

In August, imports and exports with the European Union, China's largest trade partner, rose 3.2 percent, while those with the US, China's second-largest trade partner, rose 9.2 percent.

Trade with ASEAN members increased 13.3 percent, even though its trade with Japan shrank 6 percent during the period.

The data released Sunday also showed exports of electronics and machinery products grew by 6.7 percent to reach $106.45 billion in August, accounting for 55.9 percent of total exports.

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