China reports bigger trade surplus
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China's trade surplus for April widened to $11.42 billion from $139 million in March The advance came as the nation's exports soared because of robust growth, while commodity imports slowed, according to the General Administration of Customs.
The authorities announced on Tuesday that April exports rose 29.9 percent from a year earlier to $155.7 billion, and imports increased by 21.8 percent to $144.3 billion.
China reported trade surpluses of $11.42 billion in April and $139 million in March.
"As China's tightening measures to cool the economy choke back liquidity of capital, imports of commodities dropped and import growth is lower than expected," said Li Wei, an economist from Standard Chartered Bank (China) Limited.
Despite the highest monthly trade surplus this year, experts said the United States has no reason to pressure China on yuan appreciation, as the trade surplus is expected to fall sharply this year, probably to "$100 billion", thanks to continuing efforts on yuan appreciation and rising disposable income.
Imports of iron ore by volume fell by 11 percent, and copper dropped 14 percent from the March figure, according to the Customs' data.
To curb inflation, China has raised interest rates four times since mid-October and has increased the reserve requirement for lenders seven times.
"The impact of tightening (on imports) will probably continue during the next few months," Li said.
"Overseas demand is still strong and the economies of the United States and the European Union (EU) are recovering well," said Zhou Shijian, a senior trade expert from Tsinghua University.
From January to April, China's overseas shipments of coke grew by 409 percent and precious metals surged by 111 percent.
