China soy imports hit second-highest on record in Dec -Customs

By Yawen Chen and Ryan Woo

Chinese exports and imports picked up steam previous year thanks to strong global demand, data showed Friday, but its surplus with the United States, a sensitive issue with Donald Trump, widened.

Exports grew 10.9 percent year-on-year in December, data from the General Administration of Customs showed Friday.

The Belt and Road has expanded China's markets, and trade with countries in Latin America and Africa grew by 22 percent and 17.3 percent, respectively, last year.

Tackling the trade gap between the US and China - which Washington has said is US$100 billion wider than Beijing has reported - was one of US President Donald Trump's election campaign promises, though his administration did not address the matter directly in his first year in the White House. In 2016, imports were down 1.1%, according to customs data.

"Import growth will slow too as China's economic expansion slows amid weaker investment in manufacturing and property".

For the month of December, the change was even more dramatic: Overall trade for that month fell 50.6 percent from the same period in 2016.

Trump will have opportunities to impose tariffs on a range of Chinese goods.


Trade balance is forecast to be $37 billion in December against $40.21 in November.

He estimated that imports declined by the biggest margin in nearly two years in volume terms in December as purchases of industrial commodities plummeted.

Chinese imports of soybeans jumped to the second-highest volume on record in December, according to customs data, boosted by strong demand in the run-up to next month's Lunar New Year holiday and healthy crushing margins.

Strength in Chinese exports "is bound to add to US-China trade tensions", Kuijs said.

China's goods surplus with the United States, a sore spot in relations between the two nations, hit a record high of $275.81-billion past year - topping the previous record in 2015 of $260.8-billion. China's December trade surplus with the US was $25.55 billion, compared to $27.87 billion in November.

The U.S. government hasn't announced its own trade figures for the whole of 2017, but experts say they are also likely to show a massive deficit with China.

Related News:

  • Karni Sena members held while protesting outside CBFC office

    Karni Sena members held while protesting outside CBFC office

    Another Sena worker, Jeevan Singh Solanki told IANS that the group will not allow the film to release anywhere in the country. Shahid Kapoor essays the role of Maharawal Ratan Singh and Ranveer Singh is stepping into the shoes of Alauddin Khilji.
    Ford sued over claims of diesel emissions

    Ford sued over claims of diesel emissions

    The lawsuit also names automotive parts supplier Robert Bosch GmbH as a defendant, and both companies have denied the allegations. EPA and CARB emissions regulations", Barbosa said. "We will defend ourselves against these baseless claims".

    "Detective Pikachu" Aims for March 23 Release with Massive amiibo

    Developed by Creatures Inc, Detective Pikachu is a puzzle-solving adventure featuring Pikachu as the titular character. The New Nintendo 2DS XL Pikachu Edition will hit the USA - it was released in Japan late past year - on January 26.
  • Trump Rejects Bipartisan Dreamers Deal

    Trump Rejects Bipartisan Dreamers Deal

    Trump has terminated it but given lawmakers until March 5 to craft legislation reviving its protections. Arizona Republican Jeff Flake told reporters today it has happened.
    Olivia Munn roasts Mark Wahlberg at 2018 Critics' Choice Awards

    Olivia Munn roasts Mark Wahlberg at 2018 Critics' Choice Awards

    Yet for the Critics' Choice Awards , the next major awards show of the season, white was clearly the colour of the night. Janney played along for a bit, saying, "My mother is going to be very proud, because I learned everything from her".
    Paul Merson states his prediction for Chelsea v Leicester

    Paul Merson states his prediction for Chelsea v Leicester

    It is not possible to stop him because he can not play in just the same position. We can see their squad and they have two or three players for each position.
  • Dr. Martin Luther King Jr. Parade route and closures

    Dr. Martin Luther King Jr. Parade route and closures

    LaKisha Hale reflected on the inspiration she has taken from King throughout her life and career. Memorial Service also highlight the community's remembrance of the civil rights leader.
    PSLV back after August failure, launches 31 satellites

    PSLV back after August failure, launches 31 satellites

    India will use its latest satellites for better border surveillance and obtaining high resolution images of the earth. The Indian satellite was launched along with 30 others from Sriharikota in Andhra Pradesh on Friday.

    No reprieve for India in second test in Pretoria

    The duo have played 115 Tests, yet could again lose out to the one-match old Jasprit Bumrah if India retain their attack. Even professional boxers, known for their scientific methods of training, have complained for breathing problems here.
  • A US Ambassador Resigned Because He Can No Longer Serve Under Trump

    A US Ambassador Resigned Because He Can No Longer Serve Under Trump

    Ambassador to the Dominican Republic Wally Brewster, whose appointment generated a backlash because Brewster is married to a man. He was nominated to the ambassadorship by President Barack Obama in July 2015 and was sworn into the post on January 15, 2016.
    Novak Djokovic back with a bang at Kooyong

    Novak Djokovic back with a bang at Kooyong

    When both departed before the quarter-finals, it cleared the way for Roger Federer and Rafael Nadal to reach the final. In 2017, we saw two first-time Major-winners - Ostapenko at the French Open and Sloane Stephens at the US Open.
    Smartron tphone P with 5000mAh battery, 3GB RAM launched for Rs. 7999

    Smartron tphone P with 5000mAh battery, 3GB RAM launched for Rs. 7999

    Other t.phone P specifications include 32GB of internal storage , microSD card slot and rear fingerprint sensor. Coming to the cameras, a 13 MP rear camera with single LED flash and a 5 MP front camera for selfie needs.


Most liked

Girl Scout cookie season kicks off this weekend
To participate, you'll need to be in one of San Jacinto Council's 26 counties. "The paperwork needs around by March 25". A damaged home is seen after Hurricane Harvey passed through on August 26, 2017 in Rockport, Texas.

Feds encourage work requirement in Medicaid for able-bodied adults
The new rule, to be rolled out in July, would mandate able-bodied Kentuckians on Medicaid to work or volunteer 20 hours per week. But the expansion under President Barack Obama led to millions of non-disabled low income adults added to the program.

Trump cancels London trip over 'bad' Embassy deal
The spokesman added: "A state visit (invitation) has been extended and accepted and we will confirm the details in due course". A Downing Street spokesman said Mrs May would tell Mr Trump he is welcome in London.

Beaumont hospitals restrict visitation due to the flu
The state is also reporting a number of influenza outbreaks in long-term care facilities, with 49 outbreaks reported this season. It comes on suddenly and symptoms may include fever , headache, tiredness, cough, sore throat, nasal congestion and body aches.

Trump lawyer brokered $130000 in hush money to porn star
Trump". "This is now the second time that you are raising outlandish allegations against my client", Cohen told the Journal . Reportedly , Clifford had been in contact with producers for ABC's Good Morning America to talk about her Trump affair.

Palestinians Wounded in Clashes With Israeli Army in Gaza, West Bank
In the West Bank, the Health Ministry said Ali Omar, 16, was shot in the head with live fire in clashes near the city of Nablus. A further 200,000 live in East Jerusalem , annexed by Israel in a move never recognised by the global community.

Local MP refused new job offer from Theresa May
And Jeremy Hunt reportedly dug his heels in to keep his job as health secretary after turning down the role of Business Secretary. Jeremy Hunt remains as Heath Secretary in Theresa May's Cabinet , but has had social care added to his title.

Cisco Systems, Inc. (CSCO) Trades Expensive While Oracle Corporation (ORCL) Is Underpriced
Steinberg Global Asset Management's holdings in Cisco Systems were worth $888,000 as of its most recent SEC filing. South Dakota Inv Council reported 0.17% of its portfolio in Cisco Systems, Inc. (NASDAQ: CSCO ) or 44,403 shares.

Apple iOS 11.2.2 vs iOS 11.2.5 Beta 5
With the iPhone 6S the handset running the iOS 11.2.2 beta booted up slightly faster than the handset running iOS 11.2.5 beta 5. Here's what fans can expect from the new update based on the betas that have been released thus far.

Father of Sherin Mathews indicted for capital murder
The medical examiner ruled Sherin Mathews' death a homicide but could not determine exactly how she died. Mathews admitted to police he removed the body from the home after she died, continued the affidavit.

Neymar's Barcelona to PSG move was a 'step back' - Ronaldo
Neymar kept up his hot streak in front of goal by netting against Amiens in the Coupe de la Ligue on Wednesday. PSG are back in action against Claudio Ranieri's Nantes in Ligue 1 on Sunday.

Why Trump is using a new nickname: 'Sneaky' Dianne Feinstein
That inquiry ended in the spring 2016 but then another client engaged Fusion to conduct research on Trump. Dianne Feinstein of California.

Winter Weather Advisory issued for Friday
There could be some icy or slippery areas to start the morning, but most shouldn't run into major issues due to the timing. Bridges and overpasses ice over first, then secondary roads and even major highways will have significant problems.

Bing Predicts: NFL Playoffs Divisional Round
This will bring the Falcons and the Vikings in the final match to determine who among them will play in this year's Super Bowl. It is only the divisional round and there is still plenty of football to be played, but a Super Bowl rematch can still happen.

Canada Schoolgirl, 11, Attacked For Wearing A Hijab
Toronto Police say they don't yet know whether to call this a hate crime. "I can't imagine how afraid she must have been". She says she screamed and he ran away, but returned a few minutes later.