China coal imports rise in November despite push against pollution

RPT-China's Nov yuan-denominated exports up 10.3 pct y/y, imports up 15.6 pct

Demand for Chinese products has proven robust as growth in major trade partners remains intact, and imports are stabilising as the economy has outperformed this year.

Exports were up 12.3% from a year ago to $217.4 billion, according to data published by the General Administration of Customs.

Policy makers recently announced tariff cuts to help boost imports as the economy evolves to a more consumption-driven basis. The surplus was forecast to fall to USD35.0 billion from about USD38.2 billion in October.

According to China's General Administration of Customs, imports grew by 17.7% in United States dollar terms, above the 17.2% increase of October and forecasts for a smaller gain of 11.3%.

China's iron ore imports rose in November even as steel mills are cutting output as part of a government drive against pollution as some analysts said traders were stockpiling inventory.

Export growth also beat, lifting by 12.3% over the same period in United States dollar terms, a sharp improvement on the 6.9% level of October and forecasts for an increase of 5%.

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Besides ramped-up efforts to reduce winter pollution, authorities unveiled fresh regulatory measures last month for the financial sector, clamping down on high-risk lending and halting some dubious infrastructure projects that would swell local governments' debt.

Exports stood at 380,000 tonnes, up 8.6 percent from 350,000 tonnes in October and flat on a year earlier.

Steel exports rose from the previous month to 5.35 million tonnes in November, data showed.

As a result, the trade surplus totaled USD40.2 billion in November.

The latest figures beat most economists' forecasts and add to evidence that strengthening global and domestic demand is helping shore up China's economic growth.

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