China Exports Beat Forecasts

China’s exports rose 14.7 percent in April from a year ago, beating expectations and possibly easing some of the concerns about weakness in the recovery of the world’s second-largest economy, though doubts remain over the strength of real demand.

Imports for the month grew 16.8 percent, also surpassing expectations of a 13.9 percent rise.

Chinese export data in recent months has pointed to a gradual revival of the external demand, though some analysts suspect exporters may have overstated their business to sneak funds into the country and avoid capital restrictions.

“The data still contains fake exports in April as it did in March,” said Jianguang Sheng, chief China economist at Mizuho Securities. “A surge in exports to Hong Kong covered negative growth to other destinations such as Europe. The customs has wanted to work with SAFE and squeeze out the fakes from the data, but it seems it has not done so yet.”


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