China's export, import growth accelerate in June

14 July, 2017, 00:18 | Author: Gregory Stephens
  • China June exports, imports higher than expected: Report

But US data released earlier this month showed America's deficit in goods with China, which the White House has targeted with accusations of unfair trade, fell 6.2 percent in May to $30.1 billion.

Exports in yuan terms rose 17.3 percent year on year to 1.35 trillion yuan (US$199 billion) in June, compared with May's 15.1 percent increase, data from the General Administration of Customs revealed.

CHINA'S foreign trade was better than expected last month, with firm global demand and domestic recovery leading to the best first six months in more than five years.

Cui said China backed further United Nations action against North Korea for violations of United Nations resolutions such as nuclear tests and launches of intercontinental ballistic missiles (ICBMs).

China's imports of coal totaled 2.68 million tons in the first half of the year, down 74.5 percent from the previous year.

A Chinese government official said Thursday that China-North Korea trade was worth $2.6 billion in the first half of 2017, up about 10% over the same period a year ago.


This suggests that China has been making good on its February decision to suspend coal imports from North Korea, potentially cutting off a major financial lifeline for Pyongyang, although analysts caution that Chinese figures should be viewed with some skepticism as they are sometimes manipulated for political purposes.

China insisted yesterday that it was abiding by United Nations sanctions on North Korea despite a jump in its trade with the nuclear-armed nation that comes amid growing USA calls for Beijing to rein in its neighbor.

United States president Donald Trump has criticized China's ties with the North Korean government, saying its economic interests undermined its ability to challenge president Kim Jong-un's totalitarian rule.

"Simple accumulated data can not be used as evidence to question China's severe attitude in carrying out UN Security Council resolutions", Huang told a news briefing.

Asked about the surge in China's imports of North Korean iron ore and in China's ethanol exports to North Korea in recent months, Huang said that trade with North Korea for civilian use was allowed despite the sanctions. "But we are sceptical that the current pace of imports can be sustained for much longer given the increasing headwinds to China's economy from policy tightening".

Though Trump took a more conciliatory tone on the North Korea issue and China's role at a meeting with Chinese President Xi Jinping.

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