China trade balance for December comes in at $ 49.1bn (Reuters with 49.1bn, Bloomberg with 49.6bn)
- expected $49.0bn
- prior was $54.47bn (a record high for the surplus)
Exports +9.9% y/y in CNY terms
- expected +6.0%
- prior was +4.7%
Imports -2.3% y/y in CNY terms
- expected -6.2%
- prior was -6.7%
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Comments from China’s Customs Bureau (spokesman Zheng):
- 2014 total exports up 6.1 pct, total imports up 0.4 pct
- Combined imports and exports in 2014 grow 3.4 pct
- 2015 first quarter export growth still faces pressure
- Easing trade growth was partly due to weak external demand and downward pressure in domestic economy in 2014
- Says falling global commodity prices was beneficial for China
- China does not seek trade surplus
- Expects 2015 trade growth to be better than 2014
