Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

Chinese exports surge unexpectedly by 10.6% in January

Chinese exports surge unexpectedly by 10.6% in January

China’s exports unexpectedly surged by 10.6% year-on-year in January, reversing suggestions that the economy is in contraction.

Analysts’ consensus was for the figure to be flat after recent slips in the purchasing managers’ index and other indicators.

Indeed, the extent of the apparent surge in exports has led some market commentators to query the accuracy of the numbers. Some analysts have said it is more likely that companies are overstating the value of export shipments in order to bypass China’s strict capital controls and bring money into the country.

The Chinese authorities vowed to clam down on false reporting last May, but these figures have led to analysts querying whether the practice has returned.

Capital Economics rejected this theory, however. The consultancy said: 'China's exports did far better than expected in January. Over-invoicing as a way to evade capital controls is being touted as one explanation but we can't find much evidence of that- indeed, if anything, this should have suppressed export growth last month.

'Strengthening global demand may have contributed but the key factor will probably prove to have been an unusually large distortion around Chinese New Year.'

Others have queried this theory however, saying that Chinese lunar New Year falling in January this year would have been expected to dampen exports.  

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Boutique tapes: my business will never be sold

Boutique tapes: my business will never be sold

In the final part of our four part series we discuss consolidation and whether it's getting tougher for boutiques to survive.

Play Boutique tapes: are top managers better off at small firms?

Boutique tapes: are top managers better off at small firms?

In episode three of our series, boutique bosses discuss whether the best fund managers are more likely to thrive at smaller firms.

Play Boutique tapes: if you want a Ferrari, you have to pay for it

Boutique tapes: if you want a Ferrari, you have to pay for it

In the second part of our four-part series, boutique bosses are asked how they can justify the fees charged by active managers.

Read More
Your Business: Cover Star Club

Profile: how this boutique beat the big guns of wealth

Profile: how this boutique beat the big guns of wealth

This small west country offshoot of a local IFA scooped a 2018 Citywire award from beneath the noses of the national challengers

Wealth Manager on Twitter