BEIJING —China's exports in January surged beyond expectations, indicating that fears of a slowdown in the world's second-largest economy may be fading.
On Friday, the Chinese government released a raft of trade data suggesting that earlier signs of economic rebound in China were not an aberration. Leading the figures, China's foreign trade in January grew by 26.7 percent over the same month last year, following much more moderation growth of 10.1 percent year-on-year in December, according to the country's General Administration of Customs. Exports rose by 25 percent, while imports were up by 28.8 percent the customs agency said, boosting the level of overall foreign trade growth.
China's measure of the trade surplus widened by 7.7 percent, but there should be some adjustment for the Lunar New Year holiday, which fell in January last year and February this year. The month often brings strong retail growth but a noticeable slowdown in production and factory output. RELATED STORY: Wage Inflation Sweeps Southeast Asia >>
The customs agency said exports were up significantly both to the United States and Europe in January over the same month last year, continuing a series of indicators that China's manufacturing industry is picking up after months of sluggish growth and stalled output. But the pickup in not just due to a rise in demand from the US and Europe. Exports to Southeast Asian countries rose by 48.6 percent, the customs agency said.
At the same time, the central government said domestic consumer inflation had slowed in January to 2 percent, well below what the government considers and acceptable level of growth in consumer prices. The People's Bank of China has warned inflation could rise more than 3.5 percent by the end of the year.
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews