2月中國出口降幅爲年初以來最大
China’s foreign trade contracted much faster than expected last month, the latest sign of weakening global trade and lethargic domestic commodity demand as the country’s economy slows.
2月，中國外貿額下降速度顯著快於預期，這一跡象再次表明，在中國經濟放緩之際，全球貿易日趨疲弱，中國國內大宗商品需求萎靡不振。
Exports fell 25.4 per cent in February from a year earlier in dollar terms, the worst one-month decline since early 2009 and down from the 11.2 per cent drop in January. Imports fell 13.8 per cent, trimming losses after an 18.8 per cent fall in January.
以美元計，2月出口額同比下降25.4%，爲2009年初以來的最大單月降幅，1月的同比降幅爲11.2%。進口額同比下降13.8%，較1月18.8%的降幅有所收窄。
The February data partly reflect seasonal distortions related to the lunar new year holiday, which occurred earlier this year than last, raising the base of comparison for February 2015. But combined January and February trade data still show a marked deterioration compared with late 2015, analysts say.
2月數據在一定程度上反映出與春節假期有關的季節性扭曲——與今年相比，去年春節到來得更晚，因此擡高了比較基數。但分析師表示，1月和2月的合計貿易數據依然顯示，貿易狀況相比2015年底顯著惡化。
In an ominous sign for the renminbi, China’s trade surplus narrowed to $32.6bn in February from an all-time high of $63.3bn in January. The merchandise trade surplus — due mainly to falling prices for commodity imports — has been one of the few bright spots in China’s overall balance of payments over the past year, helping to offset unprecedented outflows from investment and the services trade.
2月，中國貿易順差從1月633億美元的歷史最高紀錄收窄至326億美元，這對人民幣來說不是個好兆頭。貨物貿易順差——主要由大宗商品進口價格不斷下跌導致——是去年中國整體國際收支中爲數不多的亮點之一，在一定程度上抵消了投資和服務貿易方面前所未有的資本流出。
There were also signs that inflated import invoices are being used as a cover to convert renminbi to foreign currency and send funds out of China, mainly to Hong Kong. Foreign exchange reserves data released on Monday indicate capital outflow pressure eased in February as the renminbi stabilised, but many companies and investors remain pessimistic about the Chinese currency.
還有跡象表明，企業以虛開進口發票做掩護，把人民幣兌換爲外幣後把資金帶到境外，主要是香港。週一公佈的外匯儲備數據顯示，隨着人民幣匯率企穩，2月的資本外流壓力有所減小，但許多企業和投資者仍對人民幣前景感到悲觀。
Imports from Hong Kong surged by 88.7 per cent in February, even as those from other Asian trading partners such as Taiwan, Singapore and South Korea fell.
2月，中國從香港進口額激增了88.7%，儘管當月從臺灣、新加坡和韓國等其他亞洲貿易伙伴的進口額有所下降。
