China reported a disappointing import growth in September, while exports beat expectations, according to data released by customs on Wednesday. Imports in US dollars last month increased 17.6% year-on-year to $ 240 billion. That’s less than the 20% estimated by analysts polled by Reuters.China sales of goods to other countries continued to be a ray of hope for the economy. US dollar exports rose 28.1% year-on-year to $ 305.74 billion in September, beating the Reuters poll’s expected growth rate of 21%.
China trade surplus with the U.S. rose to a monthly record of $42 billion. Exports surged by about 30% from a year ago, while imports climbed by just under 17%. The U.S. remained China largest trade partner on a single-country basis.The volume of Chinese imports of soybeans, of which the U.S. is the largest supplier, fell 30% in September from a year ago, although the value in U.S. dollar terms rose by about 10%.
Prices for thermal coal, the primary fuel for electricity production, have more than doubled this year, according to futures traded on the Zhengzhou Commodity Exchange. A shortage of coal has forced power cuts at factories and prompted authorities to call for more coal imports, including from Russia.