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Chinese yuan denominated exports up 4.9 pct, imports rise 11.5 pct

Customs is expected to release dollar-denominated trade data later on Friday. 


Reuters 13 Jul 2018, 02:05 AM China
  • Customs is expected to release dollar-denominated trade data later on Friday. (Image Credit: Twitter)

China's yuan-denominated exports rose 4.9 percent year-on-year in the first half of the year, customs data showed on Friday.

Yuan-denominated imports rose 11.5 percent in the first half, resulting in a trade surplus of 901.32 billion yuan ($135.35 billion).

The trade surplus contracted by 26.7 percent in the first half, China's General Administration of Customs said.

China's trade performance has had a strong start this year, supported by sustained demand at home and abroad.

But the export outlook is being clouded by a heated trade dispute with the United States, with both countries slapping tit-for-tat duties on each other's goods last week.

Investors worry that the Trump administration's threat to impose more tariffs on Chinese goods could disrupt its shipments and global supply chains in a blow to investment and growth. A cooling property market could also curb China's demand for imported raw materials such as iron ore.

Customs is expected to release dollar-denominated trade data later on Friday. 

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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