China Exports Better Than Headline - Capital Economics

        0321 GMT [Dow Jones] China's trade picture is better than the headline figure suggests if distortions from overinvoicing last year are removed, Capital Economics' Julian Evans-Pritchard says. April exports to Hong Kong and Taiwan are down 31.3% and 9.7% year over year, respectively--but those two markets were particularly inflated last year by overinvoicing as exporters brought foreign currency onshore to take advantage of the then-rising yuan. "That's where the overinvoicing problem was and if you strip that out the exports look much better," he says. Overall exports in April rose 0.9%, official data shows Thursday. (william.kazer@wsj.com)
        (END) Dow Jones Newswires

        May 07, 2014 23:21 ET (03:21 GMT)