MNI POLICY: China Sees Record Trade Numbers as Tension Eases

     BEIJING (MNI) - China's December trade performance rose to a record, with

both imports and exports rose to the most ever, helped by easing trade tensions

with the U.S. and higher commodity prices, Zou Zhiwu, a spokesman of the General

Administration of Customs, told reporters on Tuesday. 

     Here are the main takeaways from Zou's comments on China's 2019 trade

performance:

     - Exports of toys, plastic products and furniture in December rose 26.1%,

22.7% and 14.2% y/y respectively. Imports such as soybeans and meat from the

U.S. also jumped sharply.

     - China is likely to stay as the biggest trading nation in 2019. While

total trade in dollar terms fell slightly, exports still rose 0.5%, Zou said.

     - Private-sector businesses overtook foreign trade companies as the biggest

trading player, accounting for over half of total exports. 

     - China's trade is likely to steadily grow in 2020 as the government

further implements pro-growth policies including tax and fee reductions. 

     - U.S. Treasury's removal of China's designation as a currency manipulator

is "the right choice with positive implications," Zou said.

--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com

--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com

[TOPICS: M$A$$$,M$Q$$$,MI$$$$,MT$$$$,MGQ$$$]