China's trade surplus with the United States hit a record high in 2017

China's trade surplus with the United States hit a record high in 2017

Imports grew an even slower pace of 4.5 percent year-on-year in December, the General Administration of Customs said, which was the weakest since they rose 3.1 percent in December 2016.

China's trade surplus continued to narrow in 2017, official data showed Friday.

"Although the trade data are often volatile, this latest decline (in import volumes).is a sign that domestic demand may have weakened at the end of past year", Capital Economics Senior China Economist Julian Evans-Pritchard wrote in a note.

Customs is expected to release dollar-denominated trade data later on Friday.


"For 2018, we think solid global growth will likely provide some support for Chinese export growth", Nomura economists wrote in a note.

In 2017, the United States was China's second largest trade partner and China hopes to deepen economic and trade cooperation with the country to achieve mutual benefits, Huang said.

On the European front, French President Emmanuel Macron this week also called for greater access to the Chinese markets for French companies.

Recently, acting Governor of the Far Eastern region Andrei Tarasenko told Sputnik, that the turnover between Russia's Primorsky Territory and China increased by 14 percent or $2.5 billion over the first nine months of 2017.

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