China Defends December Trade Data-Shanghai Metals Market

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China Defends December Trade Data

Industry News 09:21:42AM Jan 18, 2013 Source:SMM

BEIJING, Jan. 18 (Xinhua) -- China's Ministry of Commerce dismissed skepticism over its better-than-expected trade data in December, saying the statistics are well-grounded.

"It is normal to see fluctuation in monthly trade data”, ministry spokesman Shen Danyang said on Wednesday.

In December, the value of Chinese exports gained 14.1 percent from one year earlier, up from November's unexpectedly-weak 2.9 percent rise, according to the General Administration of Customs.

The value of imports rose 6 percent year on year, improving from November when there was no growth.

Shen explained that foreign trade enterprises accelerated export in December as the preferential policy of exemption of statutory inspection and quarantine fee for the fourth quarter would expire at the end of 2012.

China’s strong trade performance in December has spurred skepticism among a number of foreign financial institutions, including Goldman Sachs and UBS, which suspected that the trade data may have been inflated.

 
 

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China Defends December Trade Data

Industry News 09:21:42AM Jan 18, 2013 Source:SMM

BEIJING, Jan. 18 (Xinhua) -- China's Ministry of Commerce dismissed skepticism over its better-than-expected trade data in December, saying the statistics are well-grounded.

"It is normal to see fluctuation in monthly trade data”, ministry spokesman Shen Danyang said on Wednesday.

In December, the value of Chinese exports gained 14.1 percent from one year earlier, up from November's unexpectedly-weak 2.9 percent rise, according to the General Administration of Customs.

The value of imports rose 6 percent year on year, improving from November when there was no growth.

Shen explained that foreign trade enterprises accelerated export in December as the preferential policy of exemption of statutory inspection and quarantine fee for the fourth quarter would expire at the end of 2012.

China’s strong trade performance in December has spurred skepticism among a number of foreign financial institutions, including Goldman Sachs and UBS, which suspected that the trade data may have been inflated.