GS 高盛-中国每日报告 07.11

China-Daily-Insights 07.11 9页

Today’s focus
Asia Economics Data Flash: China June data: Trade surplus reached a new record
China: Telecom Services: Party officials' rotation probably not a direct restructuring indicator
Sinofert Holdings (0297.HK): New policy on listed share transfer may cap injection upside
Headline news
Industrial figures show 4 economic highlights (China Daily)
Deposit flow into stock markets slows (China Daily)
Shanghai leads Hong Kong in dual shares (Xinhua)
Home loans jump as money flows into housing market (Shanghai Daily)
China gives foreign oil producers export tax break (Yahoo)
Asia Economics Data Flash: China June data: Trade surplus reached a new record, Hong Liang
• The trade surplus reached a new record in June on the back of strong exports growth and lagging imports growth. Exports growth came in at 27.1% year on year (yoy), largely unchanged from 28.7% yoy in May. Sequential momentum picked up to 11.8% quarter on quarter (qoq) from -17.9% qoq. Imports growth softened to 14.2% yoy, down from 19.1% yoy in May. Sequential imports growth softened to 11.4% qoq from 13.2% qoq. The trade surplus widened to a new record high of US$26.9 billion in June,