China\u2019s exports and imports both fell in September from a year earlier, though they contracted at a slower pace even as global demand remained muted.<\/p>\n
Customs data released Friday showed exports for September slid 6.2% to $299.13 billion in the fifth straight month of decline. Imports also slid 6.2% to $221.43 billion.<\/p>\n
China posted a trade surplus of $77.71 billion, up from $68.36 billion in August.<\/p>\n
Lu Daliang, spokesperson of the General Administration of Customs, said in a press conference Friday in Beijing that the unstable momentum of the global economy\u2019s recovery from the pandemic was the biggest challenge facing China\u2019s exports.<\/p>\n
China’s economy has declined at a slower pace after leaders enacted a slew of policy support measures in recent months. China\u2019s property sector, however, remains a drag on the economy, with sales slumping and developers struggling to repay massive amounts of debt.<\/p>\n
The central bank has eased borrowing rules and cut mortgage rates for first-time home buyers while providing some tax relief measures for small businesses.<\/p>\n
Demand for Chinese exports weakened after the Federal Reserve and central banks in Europe and Asia began raising interest rates last year to cool inflation that was at multi-decade highs.<\/p>\n","protected":false},"excerpt":{"rendered":"
China\u2019s exports and imports both fell in September from a year earlier, though they contracted at a slower pace even as global demand remained muted. Customs data released Friday showed exports for September slid 6.2% to $299.13 billion in the fifth straight month of decline. Imports also slid 6.2% to $221.43 billion. China posted a […]<\/p>\n","protected":false},"author":495,"featured_media":12389,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-14359","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"_links":{"self":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/14359","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/users\/495"}],"replies":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/comments?post=14359"}],"version-history":[{"count":0,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/14359\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media\/12389"}],"wp:attachment":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media?parent=14359"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/categories?post=14359"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/tags?post=14359"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}