China: Trade surplus narrowed from US$49.06b to US$44.61b - TDS

China’s Nov trade surplus narrowed from US$49.06b to US$44.61b with both exports and imports higher than the market expected, notes Research Team at TDS.

Key Quotes

“Imports jumped +6.7%/yr (vs mkt –5.0%/yr), the most since Oct 2014 boosted by a rise in coal and iron ore imports (good news for Australia). Coal imports rebounded to the most since Dec 2014. Export beat consensus too, +0.1% (mkt was –5.0%) although exports to HK usually raise a red flag.”