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From Bloomberg:
China’s industrial production jumped, exports fell the least in 13 months and imports surged in November as rebounding trade with Asian nations underscored the region’s role in leading the world recovery.
Factory output climbed 19.2 percent from a year earlier, the statistics bureau said in Beijing yesterday. Exports slid 1.2 percent, the smallest drop in 13 months, and imports surged 26.7 percent, a separate report showed.
China’s exports to Southeast Asian nations including Indonesia, Malaysia and Singapore rose 21 percent in November and imports from those countries jumped 45 percent. Growth in Asia may accelerate to 5.75 percent next year, almost twice the likely pace of the expansion of the world economy, the International Monetary Fund says.
“China’s recovery is well on track and emerging Asian economies are the first beneficiaries,” said Xing Ziqiang, an economist at China International Capital Corp. in Beijing. “Improving exports will continue to boost China’s industrial output growth in the coming months.”
Asian stocks rose after the data. More here. |