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Trade turnover between Russian Federation and China up 2.2% in 2016

Trade turnover between Russian Federation and China up 2.2% in 2016”

For all of 2016, exports were down 7.7 percent.

In December alone, China's exports fell by a more-than-predicted 6.1% from a year earlier, hit by continued weak global demand, while imports grew 3.1%.

U.S. president-elect Trump, who will be sworn in on January 20th and spent a good part of his election campaign calling China a cheat, has promised to name China a currency manipulator on his first day in office and to impose high tariffs on Chinese goods.

Export data for December shows that China lags behind the recent rebound seen in Asian exports and therefore the country's trade outlook would continue to challenging this year.

REUTERS/Aly Song/File PhotoContainer boxes are seen at the Yangshan Deep Water Port, part of the Shanghai Free Trade Zone, in Shanghai, China September 24, 2016.

For the full year, Customs' data showed that exports fell 2 percent to 13.84 trillion yuan (US$2 trillion) from 2015 while imports rose 0.6 percent to 10.49 trillion yuan.

Customs spokesman Huang Songping said that as the world's two largest economies China wants to strengthen cooperation with the United States.

Analysts expressed concern over US President-elect Donald Trump's stance toward China's trade, which they said could bring about long-term structural weakness in China's exports.

He noted that pairing strategies of development of Russian Federation and China, as well as the strategies for developing One Belt, One Road and the Eurasian Economic Union create prerequisites for further strengthening of trade and economic ties.

CHINA'S foreign trade slowed in December, renewing worries over external and domestic demand under the prospect of a trade war. "Further upside to economic activity, both in China and overseas, is probably now limited given declines in trend growth", he said.

Exports to the USA held up better - they were virtually unchanged from 2015 - but China's overall trade surplus declined a year ago for the first time since 2011.



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