Economics
Surging China-Hong Kong Trade Raises Doubts Over Recovery
- $46 billion in shipments to the city exceeded U.S. in December
- December tally was highest in a decade for final month of year
China's Trade Surplus Widened as Exports Recovered
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China exports to Hong Kong rose 10.8 percent from a year earlier for the biggest gain in more than a year, making the city the biggest destination for shipments last month and spurring renewed skepticism over data reliability and the broader recovery in the nation’s outbound trade.
Exports to Hong Kong rose to $46 billion last month, according to General Administration of Customs data released Wednesday. That was the highest value in almost three years and the biggest amount for any December period in the last 10 years, customs data show. Imports from Hong Kong surged 65 percent, the most in three years, to $2.16 billion.