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Economic Research
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08 June
2017
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China
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Economic Update
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China’s
trade growth improved in May, amid better-than-expected economic recovery
globally. In our view, China’s export growth would stabilise at mid to high
single-digit levels in the coming months given stable economic conditions.
But the import growth rate could be affected by easing commodity prices and
the high base effect. As such, trade surplus would continuously expand and
may partially offset the impact from capital outflows. In the meantime, we
believe the CNY would remain strong against the USD in 2017. We revise our
year-end forecast to 6.95CNY/USD from 7.15CNY/USD previously, indicating no
depreciation against the US currency in this year.
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Thursday, June 8, 2017
Stabilising Trade Terms, But Headwinds Ahead For Imports
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