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China’s Growth Accelerates in December

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By Douglas A. McIntyre Updated Published
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In another sign that China not only dodged the worst of the recession, but that its impressive growth has accelerated as many other major nations continue to suffer economically, the world’s biggest country by population reported that exports increased 14.1% in December. Its trade surplus rose to $31.6 billion as well.

According to Bloomberg:

[T]he U.S. replaced the EU last year as China’s largest export market, Zheng Yuesheng, head of customs statistics, said at a press briefing today. Sales to the bloc fell 6.2 percent in 2012. The two markets together accounted for one-third of China’s exports in 2012, customs data showed.

December exports may have been boosted by the impact of a strike at California ports that ended Dec. 4, according to Lu. Rushed shipments and even faked exports to secure tax refunds may also have contributed to the stronger growth, according to Alistair Thornton, a Beijing-based economist at IHS Inc.

China’s Ministry of Commerce, which oversees trade policies, said in a statement last month that it will seek to stabilize the scale of exports and improve support for trade growth in 2013.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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