China Oct Trade Surplus USD 31.99 Bn, 45-month High

Source: General Administration of Customs, ChinaScope Financial (Data)

+       According to data published by the General Administration of Customs on November 10, China’s exports for October grew 11.6 percent year-on-year, the most in five months, to USD 175.57 billion. Imports increased 2.4 percent year-on-year to USD 143.58 billion. October trade surplus hit a 45-month high of USD 31.99 billion.

+       In the first ten months of 2012, China’s exports grew 7.8 percent year-on-year to USD 1.67 trillion, while imports increased 4.6 percent year-on-year to USD 1.49 trillion, resulting in a trade surplus of USD 180.23 billion.

+       In the January-October period, China’s trade with the European Union fell 3 percent year-on-year to USD 452.83 billion. Trade with the US increased 9.1 percent year-on-year to USD 396.09 billion. Trade with Japan was USD 275.47 billion, down 2.1 percent year-on-year.

China’s trade surplus continued to widen in October as export growth accelerated to 11.6 percent while import growth remained at modest 2.4 percent. Higher export growth is the most recent of many signs indicating that China’s economic growth might be picking up in 12Q4.

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GDP Growth in Central and Western China Exceeds 10% in 12H1

Source: China Business News, ChinaScope Financial (Data)

+       As of July 22, 20 provinces and municipalities in China have released their semi-annual GDP data, showing that Guangdong province continues to lead in terms of GDP value and that the highest growth is found in Guizhou province with 14.5% YoY in 12H1. The lowest GDP growth was recorded in Beijing with 7.2%.

+       According to the data released so far, provincial GDP growth in central and western regions exceeds 10%, while the rates are below 10% in most eastern regions, except for Tianjian and Fujian, which recorded growth of 14.1% and 11.4%, respectively.

Inland regions are increasingly driving China’s economic development.

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Second Quarter GDP Growth at 7.6% YoY

Source: National Bureau of Statistics, ChinaScope Financial (Data)

+       Data released by the National Statistics Bureau today shows that China’s GDP grew at 7.6% in 2012 Q2 equivalent to a seasonally adjusted quarter-on-quarter growth of 1.8 %.

+       Industrial value added grew at 9.5% year-on-year in June, up 0.76 ppt. on May.

China’s economy expanded at only 7.6% YoY in Q2, the slowest pace in three years. The CSF leading economic indicator bottomed in May, indicating that some economic improvement can be expected in August-September.

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