China January export figures not inflated: ministry
Updated: 2014-02-18 17:29
BEIJING - A Chinese commerce official on Tuesday denied speculations that the country's strong export figures in January were inflated by hot money inflows disguised as trade payments.
"It is groundless," said the Ministry of Commerce spokesman Shen Danyang at a press conference, adding that the strong exports were in line with the ministry's expectations.
He attributed the 10.6-percent rise in January's exports to recovery in major developed economies, the government's support policies on exports and a rush of shipments ahead of the Spring Festival, a traditional holiday for Chinese workers.
"We cannot rule out possibilities that a few companies conducted illicit transactions, but on the whole, the export growth number is reasonable and logical if you look at breakdown figures for different commodities and destination markets," said Shen.
Shen said a wide range of labor-intensive goods saw strong export growth in January. Meanwhile, exports to both developed economies and emerging markets grew.
Additionally, the majority of provinces in the country saw rapid growth, particularly those in the less developed central and western parts of the country, said Shen.
Shen forecast that China's export growth in 2014 will maintain last year's level.