China's economic picture improves on trade data

China's economic picture improves on trade data

China's 2017 export outlook considerably improved on Thursday because it reported forecast-beating trade surge in March and Donald Trump softened his anti-China rhetoric in a sudden policy shift.

Washington's improving ties with China were underscored when Donald Trump told the Wall Street Journal that he wouldn’t consider China to be a currency manipulator as he had promised to do on his first day in office.

The comments were an about-face from Donald Trump's campaign pledges, which had rattled China as well as other Asian exporters, and also came days after his first meeting with China’s President Xi Jinping where he urged China to help to tame North Korea.

In March, China's exports edged up at the fastest pace in a little more than two years, growing 16.4% from the previous year, thus indicating that global demand is actually picking up, as the customs office informed on Thursday.

As for import surge, it remained strong at 20.3%, powered by the country's voracious appetite for crude, iron ore, coal as well as soybeans, whose volumes all inched up from February notwithstanding concerns over ascending inventories. 

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