China: Exports hit a record high, imports increased rapidly

China's export growth hit a new record in November but faces pressure from a strong yuan as well as weakening demand and higher costs. Imports increased rapidly, indicating stronger domestic activity.

Data released earlier in the day showed exports up 22% year-on-year, above the 19% growth forecast prepared by Investing.com but below the 27.1% growth of October.

Imports rose 31.7%, higher than the 19.8% growth forecast given by Investing.com but below the 20.6% growth recorded in October.

Data released earlier in the day showed exports up 22% year-on-year, above the 19% growth forecast prepared by Investing.com but below the 27.1% growth of October.

Imports rose 31.7%, higher than the 19.8% growth forecast given by Investing.com but below the 20.6% growth recorded in October.

China's producer price index fell slightly in November from a 26-year high, helped by government price controls and an easing of the energy crisis.

National Bureau of Statistics (NBS) data released earlier in the day showed the consumer price index (CPI) up 2.3% year-on-year, well below the 2.5% gain in forecasts made by Investing. com but higher than October's 1.5% growth. The CPI rose 0.4% month-on-month in November, higher than Investing.com's 0.3% gain but lower than the previous month's 0.7% gain.

NBS senior statistician Dong Lijuan said in a statement accompanying the data release that there have been recent government policies aimed at curbing sharp increases in energy and raw materials prices.

These include setting immediate factory price targets and requiring rapid production to cool down high prices, which have been effective in easing the expected power shortages this winter.

However, manufacturing inflation remains high. The producer price index (PPI) rose 12.9% year-on-year, above the 12.4% gain in Investing.com's forecast but below October's 13.5% gain.