Chinese exports and import growth slowed in December By Investing.com

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© Reuters.

Written by Gina Lee

Investing.com – Growth in Chinese exports and imports in December, amid signs of a slowdown in the world’s second-largest economy. However, solid demand continued to boost Chinese exports.

it rose 20.9% year-on-year in December, more than 20% in the forecasts prepared by Investing.com, but lower than the 22% growth in November. Exports exceeded expectations for most of 2021, but deliveries slowed as foreign demand for goods declined and high costs hit exporters.

it rose 19.5% year-on-year, below 26.3% in forecasts prepared by Investing.com and up 31.7% in November. In December, it was $ 94.46 billion, more than the $ 74.50 billion forecast prepared by Investing.com and the $ 71.72 billion figure from November.

Total exports grew by 29.9% in 2021, compared to an increase of 3.6% the year before. Imports rose 30.1 percent this year, after falling 1.1 percent in 2020.

Strict restrictive measures to combat ongoing COVID-19 epidemics and declining assets are two of the challenges China faces in 2022 after experiencing an initial economic recovery.

The country will introduce more policies to help exporters and alleviate the pressure of international logistics problems, the Xinhua news agency reported in late December 2021, citing a State Council meeting chaired by Prime Minister Li Keqiang.

China will also face an unprecedented degree of difficulty in stabilizing foreign trade in 2022 as other exporters increase production and amid a less favorable base for comparison, Deputy Trade Minister Ren Hongbin said on December 30th.

The government has also promised to focus on stabilizing the economy and maintaining growth in a reasonable range in 2022 at the annual Central Economic Working Conference held from 8 to 10 December 2021.

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