In November, international trade in China has declined but trade surplus continued to expand. Bohai securities reported that China imports has dropped mainly because price of the commodity such as iron ore and crude oil decline. Influenced by PMI new import orders decreasing, domestic trade surplus is expected to be in a high level.

According to statistics, total import and export value reached 368.85 billion dollars with a drop of 0.5%.China exports was 211.66 billion dollars, rising 4.7%. China imports was 157.19 dollars, declining 6.7%.

Seeing from countries, China exports to US, Europe and Japan grew 1.66%. For exports to US, the growth of exports to US has firstly decreased in this half year. Exports to EU kept steady with a growth of 4.06%. Exports to Japan was negative but the range was narrowed with a drop of 5.82%.

The reasons why exports declining sharply were exports to Hong Kong significantly drop with a growth of only 0.99%, down by 20%.virtual high of exports precious metal was back to normal in October and continued to shrink from November to the end of 2014.

General commodity exports in November fell 5% from last month, negative growth for five months. Average price for iron sand, coal and crude oil significantly decreased and domestic demand was depressed which dragged imports growth.

PMI exports orders declined together with weakness of EU and Japan economy. Influenced by depressed domestic demand and commodity price, the imports declining will surpass exports, therefore, trade surplus will maintain a high level.