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Business

China foreign trade down for ninth consecutive month

China has logged another month of weak trade, according to the latest data for November. The country's major trading partners were hoping Chinese exports might level out in Q4, but they look set for disappointment.

Chinese exports fell 6.8 percent in November from a year ago, customs data showed Tuesday. The fresh figures marked the fifth straight month of decline, casting doubts on earlier hopes that the Asian nation might level off in the fourth quarter of 2015.

Imports tumbled 8.7 percent in November, the 13th monthly drop in a row. The decrease came despite a surge in imported copper, iron ore, crude oil and coal.

Analysts said buyers likely took advantage of a fresh slump in commodity prices. But by value, China's imports from the US, the European Union and Japan all dropped, with goods imported from Australia experiencing a double-digit slump.

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"China's trade performance remains weak as the trade value is likely to drop by 8 percent for the whole of 2015," Commerzbank economist Zhou Hao said in a statement.

"This comes versus an increase of 3.7 percent in 2014, clearly reflecting a

deleveraging process in the manufacturing sector,"

he added.

Analysts said China was struggling to meet its growth target of about 7 percent in 2015 amid sluggish investment and falling exports.

Beijing is expected to continue its fiscal stimulus measures on growing concerns over the slowing of the emerging economy.

hg/cjc (Reuters, dpa)

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