China Tells

China’s Export continue to slow down in Oct 09 by 13.8% y-o-y. However, such a reduction is an improvement from that in Sept (See graph from Chinatells). In the meanwhile, Import continues the negative growth at -6.4% y-o-y, slightly slower than that of Sept. China’s Export and Import starts to show negative growth from Dec 08 mainly due to the recessive growth in US and EU. China government reacted with agressive monetary easing and pegging of foreign exchange rate. So far the export pace is still lagging behind that of ’08, but the slow down has waned and recovery back to the black seems right around the corner. Such an outlook shall be very supportive to China government’s goal to complete GDP growth at minimum 8% for the year.

中国10月份出口同比降低13.8%，进口同比降低6.4%。中国的进出口从去年12月份开始由正转负，主要受西方经济危机影响。目前看来，负面影响在渐渐消除，进出口很可能在未来某个月回到正增长。值得一提的是，尽管出口下降，但是进口下降更多，所以中国的月贸易净额不断创出新高（点击此处察看图表），令人民币升值的压力日趋严重。