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China Focus: China's weak foreign trade growth suggests more policy easing (2)

(Xinhua)    18:13, January 13, 2015

Liu Ligang, chief Greater China economist at ANZ Banking Group agreed. that weak domestic demand and investment led to weak growth.

Trade with the European Union, China's biggest trade partner, edged up 8.9 percent to 3.78 trillion yuan, while trade with the United States, the second-biggest partner, rose 5.4 percent to 3.41 trillion yuan. Trade with third-largest partner ASEAN, rose 7.1 percent to 2.95 trillion yuan.

Trade with Japan contracted 1 percent 1.92 trillion yuan.

For 2015, economists believe that the foreign trade growth will continue the downward trend.

Bob Liu predicted that both export and import growth will fall in January, but export growth should still be much stronger than imports. The trade surplus is expected to remain high in January, before experiencing a seasonal decline in February and March.

His point was echoed by a research note from Merrill Lynch, forecasting that the elevated trade surplus could be sustained for several months on falling crude oil prices, while export growth could soften on a strong RMB.


(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Editor:Yao Xinyu,Huang Jin)

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