China experienced a nearly 50% increase in exports for February, reaching $94.5 billion US dollars. China’s exports surged more than expected in February as imports continued strong growth, indicative of a robust domestic economy and signs of recovery from the global financial crisis. Domestic demand will remain robust in the near future, enabling imports to retain the fast expansion China has seen since the end of last year. China’s exports jumped 45.7% in February from a year earlier to US$94.5 billion, sharply up from 21 percent in January.
Trade surplus narrowed to US$7.6 billion last month from $14.1 billion (US) in January and $18.4 billion (US) in December. China’s waning trade surplus is mainly due to more trade with emerging markets and new markets. For example, China’s trade Brazil climbed 88.5% from a year earlier, the fastest among all of its trading partners. Despite the declining trade surplus, the nation will face more calls for appreciation of the yuan.
The revival of Chinese exports simultaneously escalated trade disputes. Its traditional trading partners, like the European Union and the United States, continue to demand a stronger yuan. However, any rise in the yuan’s exchange rate would assuredly be gradual and controlled. The US has announced a slew of rulings against imports from China. In the past three months, the US has decided to levy tariffs on Chinese-made potassium phosphate salts, coated paper, steel tubes, gift-wrapping ribbons, electric blankets and wire deckings. China was targeted in 116 anti-dumping and anti-subsidy cases last year, with more than US$12 billion involved.
Edward Lehman, Senior attorney of Lehman, Lee, and Xu Law Firm stated, “Many of our international trade and marketing clients request our expert advice concerning barter trade, product buyback, clearing account trade, compensation trade, counter-purchase and export import licenses, Certificates of Origin, and commodities inspection. The highly trained Lehman, Lee & Xu team of international practice attorneys has extensive experience in the complex import and export laws, including customs, and in assisting clients with their processing and assembly arrangements in China. We encourage our clients to consult with us, whether they are domestic or international businesses, small or large, at any one of our many offices throughout China.”
For more information about Lehman, Lee & Xu, please visit the firm’s website at
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