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·         China is making up some ground on its U.S. trade deal commitments

… China’s imports are surging, leaping 15% over August. According to Bo Zhuang, chief China economist at TS Lombard, imports of pork and soy from the U.S. are driving the growth as China tries to uphold its commitment in phase one of the trade deal… 

 

·         Chinese imports hit record dollar amount in September

Latest trade figures underline country’s economic recovery from coronavirus

 

 

China is making up some ground on its U.S. trade deal commitments

 

By Eamon Barrett, Fortune

October 14, 2020

 

On Tuesday, data from China's General Administration of Customs showed a surge in imports and exports in September, with 13.2% and 9.9% growth year on year, respectively. The strong uptick shows how Beijing is navigating the politics of a post-pandemic recovery—exporting vital goods to worse-hit nations while aiming to meet its trade deal commitments to the U.S.

 

“China’s surprising resilience in exports has been mainly driven by its status as the first economy in and the first out of the COVID-19 pandemic,” analysts at Nomura said in a note, adding that demand for medical equipment and personal electronics continues to bolster China’s export growth.

 

Exports of high value-added electronics have been a particularly good ballast for China’s economy this year, as much of the world’s middle-class workforce pivots to working from home. Shipments of personal computers provided a much-need boost to China’s second quarter GDP data, returning the economy to growth after a decline in the first three months of the year.

 

While export growth in September remained relatively stable—up 1.9% on the month before—China’s imports are surging, leaping 15% over August. According to Bo Zhuang, chief China economist at TS Lombard, imports of pork and soy from the U.S. are driving the growth as China tries to uphold its commitment in phase one of the trade deal.

 

“China doesn’t want further escalation or deterioration with the U.S., so they’re trying to be nice for a few months,” Zhuang says, suggesting Beijing is biding time until the elections in November...

 

more, including links 

https://fortune.com/2020/10/14/china-us-trade-deal-commitments-import-export/

 

 

Chinese imports hit record dollar amount in September

Latest trade figures underline country’s economic recovery from coronavirus

 

Thomas Hale in Hong Kong, Xinning Liu in Beijing and Kathrin Hille in Taipei, The Financial Times

Oct 14, 2020

 

Imports into China hit their highest dollar amount in September, as the world’s second-largest economy increased purchases of iron ore, agricultural commodities and semiconductors as part of an accelerating recovery from coronavirus.

 

Imports last month were up 13.2 per cent year on year to $203bn, by far the biggest jump in 2020, customs data showed on Tuesday. The previous record for a single month was in September 2018, before the trade war with the US escalated.

 

The new figures, which also showed exports rising at their fastest rate this year, underline China’s booming trade activity at a time when other economies are still struggling to shake off the effects of the pandemic.

 

China’s exports, which have risen in each of the past four months and helped fuel a domestic recovery, have been bolstered by strong sales of electrical devices and medical equipment and leapt 9.9 per cent in September.

 

The unexpected rise in imports, which were forecast to increase just 0.4 per cent in September and had fallen in every month except June this year, is a sign of a widening recovery in its trade activity.

 

“The sharp rebound was driven by the continued domestic recovery and increased domestic demand due to currency appreciation,” noted Erin Xin, an economist for Greater China at HSBC.

 

She pointed to rises in imports of iron ore, which jumped 9.2 per cent in terms of volume and 17.1 per cent in value in September.

 

China’s appetite for commodities has soared on the back of a state-supported recovery in industrial activity that has already boosted the country’s share of global steel production.

 

Li Kuiwen, spokesperson for China’s General Administration of Customs, said on Tuesday that in the first three quarters of the year, iron ore imports were up 10.8 per cent to 868m tonnes. He added that imports of soyabeans and meat increased rapidly over the same period...

 

more

https://www.ft.com/content/4ce84de7-be39-4083-83f2-ed1721b8d842