CHINA EXPORTS JUMP MOST SINCE 2003, PROPERTY PRICES RISE 12.4%
Bloomberg, June 10, 2010
China’s exports jumped the most in six years and property prices rose at a near-record pace, signs that the economy is withstanding the sovereign-debt crisis in Europe and remains at risk of overheating.
Stocks fell, extending the Shanghai Composite Index’s 21 percent decline this year, on concern the government will step up policy tightening. The leap in exports could be a blip before European demand wanes, while falling property sales signal a looming slowdown in investment that may cool the world’s third- biggest economy, investment bank China International Capital Corp. said.
Today’s data “may be the good news before the bad news as the European debt crisis curbs the region’s demand and property- market corrections drag on investment,” said CICC’s Xing Ziqiang, a Beijing-based economist. “Exports may decelerate rapidly later this year and economic growth may slow to around 7.5 percent in the fourth quarter.”
Bloomberg, June 10, 2010
China’s exports jumped the most in six years and property prices rose at a near-record pace, signs that the economy is withstanding the sovereign-debt crisis in Europe and remains at risk of overheating.
Stocks fell, extending the Shanghai Composite Index’s 21 percent decline this year, on concern the government will step up policy tightening. The leap in exports could be a blip before European demand wanes, while falling property sales signal a looming slowdown in investment that may cool the world’s third- biggest economy, investment bank China International Capital Corp. said.
Today’s data “may be the good news before the bad news as the European debt crisis curbs the region’s demand and property- market corrections drag on investment,” said CICC’s Xing Ziqiang, a Beijing-based economist. “Exports may decelerate rapidly later this year and economic growth may slow to around 7.5 percent in the fourth quarter.”
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