China January trade balance data ... please handle with care, these figures are HOT!

Trade Balance CNY terms, 354.53bn yuan ... big beat

  • expected 307.25bn, prior 275.40bn

Exports +15.9% y/y ... huge beat, will be read as a big positive for the economy (and a positive for China proxies, like the AUD)

  • expected 5.2%, prior 0.6%

& Imports +25.2% y/y .... huge beat, will be read as an indicator of the strength and stability of the Chinese economy, again a positive for China proxies

  • expected 15.2%, prior 10.8%


We usually get the 'CNY terms' 30 or so minutes before we get the USD terms, so still awaiting these. I'll post them up separately, but here are the 'expected' and priors ...

China trade balance: $ bn

  • expected $48.50bn, prior $40.71bn

& Exports % y/y

  • expected +3.2%, prior --6.2%

& Imports % y/y

  • expected +10.0%, prior +3.1%