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Chinas July trade surplus surged to 28.7 billion

China's July trade surplus surged to 28.7 billion

According to figures released by China's General Administration of Customs, China's trade surplus expanded dramatically in July, from June to 200 billion U.S. dollars, increased to 28.7 billion U.S. dollars, up 43.5%. This figure is 10.6 billion the same month last year, 3 million compared to an increase of 170% also.

General Administration of Customs said China's July exports grew 38.1% year on year, amounting to 1,455 million 2 million; imports grew 22.7% to reach 1,168 billion U.S. dollars.

Data show that July's trade surplus surged mainly import growth slower than expected actions, and beyond the economists estimated 196 billion U.S. dollars, is the January 2009 trade surplus reached 39.11 billion U.S. dollars since the highest level.

The Wall Street Journal quoted Morgan Stanley economist Wang said that China pledged to allow market supply and demand to determine the exchange rate, and the international market supply and demand balance of payments is the most important factor, so expect the next few months will speed up the pace of appreciation of RMB is now in the summer adjustment.

Since the Chinese government announced on June 19 to improve the RMB exchange rate flexibility, the RMB against the U.S. dollar has risen 0.77%.

Royal Bank of Canada (Royal Bank of Canada) economist Brian Jackson said in a report, the U.S. monthly trade deficit will likely be released over 40 billion U.S. dollars, thereby further increasing the pressure of RMB appreciation.

He said Sino-US bilateral trade in contrast to the situation may prompt the U.S. to exert more pressure on China to allow further yuan appreciation, especially in the U.S. mid-term elections in November will be the case.

China's July exports rose 38.1%, an increase of 43.9% lower than in June, but 36.3% higher than economists expected.

Exports to the EU did not expect signs of weakening. July exports to the EU in China $ 28,670,000,000, compared with June's 5.4% higher than the 27.2 billion; Chinese exports to the EU in July and 20.73 billion U.S. dollars last year compared with the increase of 38.3%.

China's July imports grew 22.7%, an increase was significantly lower than June's 34.1%, also lower than the expected 30.2%.

The weak growth in imports caused by the full impact of the Asian markets, led to weak demand on China could adversely affect the global economic recovery concerns.

UBS Securities (UBS Securities), said economist Wang Tao, China in July than-expected increase in imports was mainly due to slowdown in the overall domestic demand and investment, and global commodity prices.

However, she said, lower than the expected increase in imports and China to ease monetary policy can not be a sufficient reason for the growing trade surplus will contribute to overall economic growth.

If the Chinese government aims to control policies to cool the real estate market analysts expect as many as lead real estate construction activity slowed, the demand for imports of raw materials in China in the second half may be more affected.

The data also show that the national real estate sales in July fell 15.4% to 6,470 million square meters, compared to the 9,160 million square meters in June fell 29.4%.

Although housing sales down, but in July house prices in 70 cities nationwide chain flat, rose 10.3% year on year.

Analysts said the price did not decline from the situation, China will not rush to ease real estate control policies, including raising the second and third-suite suites down payment requirements. Analysts expect the next few months, housing sales and prices will drop further, and from September's decline began even more impressive.

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