Not new news, we've already got the data in yuan terms and seen its 'risk on' impact
China December trade balance: surplus 382.05 bn yuan (338.8bn expected)
But, here we go:
Trade Balance +60.9 bn USD
- expected was $51.30b and prior was $54.10b
Exports -1.4% y/y
- expected -8.0%, prior -6.8%
Imports -7.6% y/y
- expected -11.0%, prior -8.7%
- 2015 Imports fall 14.1% y/y
- 2015 Exports fall 2.8% y/y
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Combined with the 4 days of stability in the yuan fix from the PBOC, the better trade data is good news for the Chinese administration. Gold stars all round I suspect.
