China’s exports grow as demand for PPE, remote working tech jumps

07.12.2020 - Evdokimov Roman
China’s exports grow as demand for PPE, remote working tech jumps

November had seen China’s exports advanced at the fastest pace in almost three years. This came after the country recorded a historic surplus as the world demanded more products necessary to combat the coronavirus pandemic.

November exports advanced 21.1% from a year ago, customs data showed on Monday. This came to be the most rapid pace of expansion exports had seen since February 2018. The reading placed higher than the 11.4% increase in October as it came sharper than the 12.0 increase polled by analysts.

Despite the yuan’s positive performance against the dollar, exports still jumped. More so, the yuan’s placement near multi-level peaks against the greenback could render a positive signal for those policymakers concerned about the impact of a struggling dollar on China’s trade competitiveness.

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