China's April export data beats market target
April shipments jump 14.7pc, with imports also increasing a better-than-expected 16.8pc, fuelling talk of speculative fund flows
The mainland's export growth last month may be too good to be true, with economists unanimously linking the strong performance to speculative fund inflows betting on yuan appreciation.
The situation adds to the complexity in reading the country's real economic strength.
Exports data has repeatedly beaten market expectations in recent months, in contrast to broad-based weakness in trade reported by economies in the region, including Taiwan, South Korea and Hong Kong.
The foreign exchange regulator has recently tightened rules on capital inflows management.
Last month, export rose 14.7 per cent from a year earlier, sharply higher than market expectation for a 9.2 per cent increase and 10 per cent growth in March, customs data showed.
Imports increased 16.8 per cent, compared with a 14.1 per cent growth in March, as companies stepped up purchases of commodities, supporting economists' view that a modest economic recovery was on the way.
China recorded a trade surplus of US$18.2 billion last month, reversing a deficit of US$900 million in March.