The Chinese Communist Party (CCP) recently claimed that China’s economic growth is stable, citing a double-digit spike in exports to the Association of Southeast Asian Nations (ASEAN) in March.
Some financial institutions revealed that official data could not conclude that China’s exports are rebounding as various factors need to be considered.
On April 18, China’s Bureau of Statistics said at a press conference that China “will not experience deflation,” saying China’s “exports exceeded expectations in March” and “economic growth is steady upward.”
An import and export figure for March, released by the General Administration of Customs on April 13, showed that China’s total exports in March were $315.59 billion, up 14.8 percent year-on-year, while imports were $227.4 billion, down 1.4 percent year-on-year.
Faster growth of imports and exports to ASEAN is one of the characteristics of exports in the first quarter, as officially summarized.
In U.S. dollar terms, China’s exports to ASEAN, naming six major countries like Vietnam, Thailand, Singapore, Indonesia, Philippines, and Malaysia, increased by 9.0 percent year-on-year from January to February and by 18.6 percent year-on-year in the first quarter, indicating that the export data in March was better than the previous two months, pulling the quarterly growth to double digits.
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