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Chinese Exports Decline for Fourth Straight Month, Down 8.8% in August

Pictured are drivers transporting shipping containers from the port city of Tianjin, one of the busiest commercial ports in the world. Photo by Stephen Shaver/UPI
Pictured are drivers transporting shipping containers from the port city of Tianjin, one of the busiest commercial ports in the world. Photo by Stephen Shaver/UPI

Chinese exports dropped by 8.8% in August compared to one year ago, the fourth consecutive month of export decline, according to customs data released Thursday.

According to China’s General Administration of Customs August imports dropped by 7.3% from a year ago.

July exports were down 14.5%, so while still in negative territory August figures showed some improvement.

“In general, the figures still suggest the headwinds remain despite some marginal improvement,” Hao Zhou, chief economist at Guotai Junan International, said in a statement. “Looking ahead, whether China’s trade growth has already hit the bottom will hinge on several factors,” he said, including Chinese yuan weakness relative to the U.S. dollar and rising oil prices.

University of Hong Kong Professor Chen Zhiwu, said the business environment in China has improved after months of efforts by the State Council. He said other policies from other government agencies, though, have been contradictory.

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