China's exports surged by 48.5 percent year on year in May, while the imports climbed 48.3 percent, the General Administration of Customs (GAC) announced Thursday. Stimulus exit a long way off
Chinese spent less in May amid volatile stock market fluctuations in the wake of the European sovereign debt crisis, according to the latest reading of an index that gauges consumer confidence published Wednesday.
Financial experts debate the pros and cons of calls for China to revalue its currency.
The deepening debt crisis in Europe that has sparked fresh fears after reports of a potential debt crisis in Hungary, will only have limited impact on exports from China, especially if the European authorities are able to prevent the contagion, top economists said on Tuesday.
China's exit from economic stimulus remains far away as private investment and consumption are currently unable to shore up the economy, said analysts.
The Chinese economy is facing a downside risk due to uncertainties brought by the European debt crisis and the country's recent tightening measures, while an economic hard landing is highly unlikely, a senior analyst at a government think-tank said.
Global economic growth remains vulnerable due to sovereign debt risks and the possibility of a second downturn, but China's growth is on track, Premier Wen Jiabao said on Monday.
A nearly $1 trillion rescue package to prevent the Greek sovereign debt crisis spreading in Europe will impact on various facets of the Chinese economy, analysts have said. EU approves $1T rescue package
A United Nations report released Thursday said that China will gain an economic growth of 9.5 percent in 2010.
China's efforts of switching economic growth pattern would help to make an overall more stable world economy, said John Hawksworth, head of macroeconomics of PriceWaterhouseCoopers (PwC), one of the world's four largest accounting firms.
Chinese Premier Wen Jiabao said on Sunday that China is facing the "most complicated" economic conditions this year, and it will be "very cautious and flexible" in choosing the timing of the stimulus exist to shore up the hard-won recovery.
A Brazilian economist has spoken highly of the Chinese government's efforts in fighting the global economic crisis, saying they were "successful."