China trade balance: What to expect – Nomura

Analysts at Nomura are out with their expectations on what to watch for in the Chinese trade balance data due out shortly.

Key Quotes:

“We expect export growth to moderate, but remain relatively solid at 13.0% y-o-y in October after higher-than-expected growth in September, as a front-loading activity should extend into the rest of this year. 

Import growth is likely to slow more visibly, as importers may postpone some of their import orders from October to November to benefit from import tariff cuts (the most-favored-nation import tariff rate cuts announced by the State Council on 30 September came into effect on 1 November).”