China Exports Rise at Strongest Pace in Eight Months: Customs

China Exports Rise at Strongest Pace in Eight Months: Customs

Shipments into the world's top coal importer reached 22.05 million tonnes in November, up 3.6 percent from October, but down from 26.97 million tonnes a year ago, data from the General Administration of Customs showed on Friday.

Unwrought copper imports for the first 11 months of 2017 were still down 5 percent on a year earlier at 4.24 million tonnes, customs said.

"While we still expect China's domestic economy to cool in 2018 on gradually tighter financial policies, the November import data shows that there are upside risks to our China outlook", said Louis Kuijs, head of Asia Economics at Oxford Economics in Hong Kong.

The number beat analysts' forecast of a 5.0 percent increase and compared with 6.9 percent growth in October. According to calculations from Reuters, that was the second-highest monthly total on record.

Demand for Chinese products has proven robust as growth in major trade partners remains intact, and imports are stabilising as the economy has outperformed this year.

China's iron ore imports rose in November, though steel mills are cutting output as part of a government drive against pollution.

Exports stood at 380,000 tonnes, up 8.6 percent from 350,000 tonnes in October and flat on a year earlier.

Chinese copper smelters such as Tongling Nonferrous Metals Group cut back production last month to comply with environmental protection measures.

While exports are contributing to China's economic growth once again, global investors have been more focused on its strong appetite for industrial commodities such as iron ore and coal, which is boosting resources prices worldwide.

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