September imports, in renminbi terms, fell 17.7 per cent year-on-year, versus -14.3 per cent in August . This is the 11th consecutive decline and the worst pace since May. Economists were forecasting a 16.5 per cent drop.
But, exports fell just 1.1 per cent, holding up much better than expected. Economists had anticipated a 7.4 per cent decline, following a 6.1 per cent drop in August. This is third straight decline and points to some stabilisation.
The "problem" with this report is that it favours China's old economy. Beijing wants to accelerate consumption trends, and rely less on being the world's output factory.
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