China's trade balance data for January comes in the midst of the next round of trade talks with the US
- Happening today and Friday in Beijing … US - China trade talks (officially) start today
The data …Yuan terms January China trade balance: CNY bn
- expected CNY 245bn, prior was CNY 395bn
Exports +13.9% y/y
- expected 3.8%, prior was 0.2%
Imports -1.9% y/y:
- expected -1.9%, prior was -3.1%
As noted in the preview to this, and something to bear in mind …. While the lunar new year holidays were in February there is still some distortion expected in the figures from the proximity of the holidays in January. The first two months of each new year are often read together for this reason.
US terms data hitting now - see following post for more on the trade data.
