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January exports expected to drop: MOC

Xinhua, January 20, 2016 Adjust font size:

China's exports in January may return to negative growth following a sporadic rise in December buoyed by seasonal factors, a Ministry of Commerce (MOC) official said on Wednesday.

The country's exports in yuan-denominated terms climbed 2.3 percent year on year in December after five months of contraction, official data showed last week.

"Exports' performance in January may be poor given the climb in December was helped by seasonal factors as exporters chose to sell more products before the year end for a better result in 2015, squeezing January's exporting share," MOC spokesperson Shen Danyang told a press conference.

Despite the expected setback at the beginning of 2016, Shen said he is confident exports will experience "sound development" this year as the central government's pro-growth measures take effect.

China unveiled measures in 2015 to improve customs clearance processes, reduce taxes, and encourage cross-border electronic payments. Endi