China's exports up 2.6% in August, imports down 2.6%; hopes for trade deal?
BEIJING - China's exports of goods rose 2.6% YoY in August, while imports fell 2.6%, according to Chinese Customs data. The State newsagency, Xinhua, said the European Union remained China's largest trading partner in August, with bilateral trade volume up 9.7% from August 2018, followed by ASEAN, up 11.7%, and the US, down 9%.
China's trade with Belt and Road countries reportedly increased 9.9% YoY, accounting for 29% of China's total trade volume.
Meanwhile, a report in Caixin says China and the US could reach a partial deal within six months to settle some aspects of their trade dispute.
The report quotes Huo Jianguo of the China Society for WTO Studies, a think tank affiliated with the Ministry of Commerce, as saying: "The possibility is 60%-70% - because both of them are willing to talk. A breakthrough could be made if both sides show a bit of flexibility."
David Lampton, a former professor at the Johns Hopkins School of Advanced International Studies, also said there is a possibility that the two countries could reach a narrow deal in the near term if China commits to purchasing a large amount of US products, Caixin says. www.webershandwick.cn (ATI)