China's trade data shows signs of stabilization in August

Beijing, Dhu-AlHijjah 06, 1437, September 08, 2016, SPA — China’s foreign trade data surpassed analysts’
expectations in August, with exports in local currency rising 5.9 per
cent year-on-year, accelerating from a 2.9-per-cent rise in July, dpa reported. Imports rose by 10.8 per cent, compared with a decline of 5.7 per cent in July, the General Administration of Customs (GAC) said Thursday. Economists had expected both China’s exports and imports to go down by at least four per cent in August as global demand remained sluggish.
The improvement came after mixed survey results published last week on factory activity conditions in August. China’s official manufacturing purchasing managers’ index (PMI) – which mainly tracks state-owned companies – unexpectedly rose to 50.4 in August, up from 49.9 in July, according to the National Bureau of Statistics.
The government’s gross domestic product (GDP) growth target for 2016 is 6.5 to 7 per cent.
–SPA
11:53 LOCAL TIME 08:53 GMT