Chinese exports rose at more than twice the rate expected in November, boosting the country’s trade surplus.
11月，中国的出口总值增速是预期的2倍多，这增加了中国的贸易顺差。The dollar value of outbound shipments from China rose 12.3 per cent year on year in November, lifting from a revised pace of 6.8 per cent in October, and smashing a median forecast of 5 per cent from economists polled by Reuters.
以美元值计，11月中国的出口总值同比上升12.3%，比10月的出口总值同比增速6.9%有所提高，高于路透社(Reuters)调查的经济学家给出的预测中值5%。Import growth lifted year-on-year to a pace of 17.7 per cent for the period, up from 17.2 per cent a month earlier and beating an expected rate of 11.3 per cent.
以美元值计，11月中国的进口总值同比上升17.7%，比10月的17.2%高，高于11.3%的预期增速。
Those trade flows, published by the General Administration of Customs, resulted in China’s trade surplus rising than $2bn to $40.2bn, surpassing October’s revised figure of $38.2bn and well ahead of September’s revised six-month low of $28.6b. November’s trade surplus was also ahead of the $35bn forecast by economists.
根据中国海关总署发布的数据，这些进出口贸易使11月中国的贸易顺差比10月的贸易顺差382亿美元提高20亿美元，至402亿美元，远超9月份的6个月低点286亿美元。11月的贸易差额也超过了经济学家预期的350亿美元。
Julian Evans-Pritchard, China economist at Capital Economics, commented:
凯投宏观(Capital Economics)中国经济学家朱利安?埃文斯-普里查德(Julian Evans-Pritchard)评论道：“结果是，上个月中国的贸易看起来惊人强劲。在全球需求强劲的背景下，我们预期未来数月出口还将继续表现良好。”The upshot is that Chinese trade looks to have been surprisingly strong last month. We expect exports to continue to perform well in the coming months on the back of strong global demand.
“然而，考虑到政策紧缩的延迟影响，以及房地产市场降温将在未来数个季度压制中国对大宗商品的需求，我们怀疑出口的增长势头是否还能维持下去。”However, we are sceptical that the strength of imports can be sustained given that the delayed impact of policy tightening and a cooling property market are set to weigh on Chinese demand for commodities in coming quarters.
野村证券(Nomura)的分析师表示：“我们预期这一轮出口增长的反弹不会维持很长时间，未来数月增长势头将恢复温和，原因是人民币的升值可能弱化中国的出口竞争力，且即使习主席和特朗普总统近期在北京会面，发生贸易摩擦的潜在风险并未显著减轻。”