China exports soar, giving Beijing stronger hand in trade war with US

Chinese shipments hit 6-month high on strong sales growth to regions like EU

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Chinese shipments overseas grew at their fastest pace in six months, far exceeding forecasts, in a sign of resilience that is giving Beijing a stronger hand in the latest trade war with the United States.

Exports rose 8.3 per cent in September from a year earlier, according to data from the General Administration of Customs on Oct 13.

That was faster than the 6.6 per cent median estimate in a Bloomberg survey of economists, and shows there is no slowdown yet in the record-breaking flood of goods leaving China's shores.

Shipments to the US plunged 27 per cent the sixth month of double-digit declines a slump more than offset by strong growth in sales to regions like the European Union.

Exports to the EU rose by more than 14 per cent, the most in over three years, and those to the 10-nation Southeast Asian trading grouping grew almost 16 per cent.

"China's exports have remained resilient despite US tariffs, thanks to a diversified export market and strong competitiveness," said Ms Michelle Lam, Greater China economist at Societe Generale.

"The limited impact from US tariffs on overall trade so far has likely emboldened China to take a tougher stance on US-China trade negotiations."