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Exports, China's boom driven by US demand

Products of the People's Republic sold abroad grow by 7,2% in August - Shipments to the United States mark a +6,1%, thanks to the increase in demand - US data on employment and retail sales do well hope for the future

Exports, China's boom driven by US demand

The Beijing locomotive is in Washington. In August, Chinese exports grew by 7,2% over the previous year, up sharply from 5,1% in July and a contraction of 3,1% in June. All thanks to the progressive strengthening of demand in the United States and other important markets.

Shipments to the States grew by 6,1% in one year, 8 tenths of a point more than in July. Sales to 10 Association of Southeast Asian Nations countries including Indonesia, Malaysia, Thailand and Singapore jumped 30,8%.

“Demand from abroad is higher than expected – said Ma Xiaoping, HSBC economist specializing in China – In the coming months we will see a further strong boost to exports. The data coming from America – employment and retail sales – are improving”.

Beijing's local economy, with its infrastructure sector booming, investment in real estate and a buoyant auto market, had sustained a sizeable appetite for imported raw materials. Iron ore purchases are down from July's record but still up 10,5% on the year. Copper and crude oil follow a similar trend.

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