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Year-on-year growth in Chinese exports and imports blew past expectations in February, apparently underlining the momentum powering the world's third-largest economy. But some economists were wary of reading policy implications into the figures, which they said were difficult to interpret because of the timing of the long Lunar New Year holiday. This fell in February this year and in January in 2009. "On currency policy, China will not move in the first quarter pending clearer signs on economic growth, as data in the first two months are distorted by the Spring Festival," said Zhu Jianfang, chief macro economist at CITIC Securities in Beijing. Exports jumped 45.7 percent in February from a year earlier, following a 21.0 percent rise in January, while imports surged 44.7 percent after record growth of 85.5 percent in January, the General Administration of Customs said on Wednesday. | ||
Year-on-year growth in Chinese exports and imports blew past expectations in February, apparently underlining the momentum powering the world's third-largest economy. But some economists were wary of reading policy implications into the figures, which they said were difficult to interpret because of the timing of the long Lunar New Year holiday. This fell in February this year and in January in 2009. "On currency policy, China will not move in the first quarter pending clearer signs on economic growth, as data in the first two months are distorted by the Spring Festival," said Zhu Jianfang, chief macro economist at CITIC Securities in Beijing. Exports jumped 45.7 percent in February from a year earlier, following a 21.0 percent rise in January, while imports surged 44.7 percent after record growth of 85.5 percent in January, the General Administration of Customs said on Wednesday. |
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