A front-page commentary in the official China Securities Journal says:

  • The government hasn’t managed to expunge faked export data from national trade statistics
  • Non-existent registered companies have been booking exports that don’t exist
  • This is pushing up export growth numbers
  • There are, unfortunately, no further details provided in the report

(via MNI)

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The record trade surplus has been the subject of much attention:

China International Capital Corporation outlook for China trade and the currency

and Citi on “the strong trade balance and favourable global capital flow supports CNY CNH bullishness