China posts record trade surplus

China posted a record trade surplus in December and in 2021.

That's according to official data released Friday (January 14).

A surplus of $676.4 billion last year was the highest since records began in 1950.

In December the positive trade balance rose to $94 billion - another record-breaking total and well above analyst forecasts.

Around a third of that surplus is with the U.S. alone, potentially stoking tensions between the two nations.

Overseas shipments rose by a touch over a fifth year-on-year last month, which was slightly down from November's gain.

That as a surge in demand for goods eased overseas and exporters faced higher costs and the rapid spread of Omicron.

Imports were also up just under 20% in December, though that was well below forecasts.

The data proved gave some support to the yuan, with the currency set for its biggest weekly gains in two months.

Some analysts have, however, warned that the health crisis and turmoil in the country's property sector could yet hurt this year's outlook.

Markets will now look to Monday (January 17), when China releases GDP data for the fourth quarter.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting