September 8, 2018 / 3:26 AM / 17 days ago

China's August yuan-denominated exports +7.9 pct, imports +18.8 pct

BEIJING, Sept 8 (Reuters) - China’s yuan-denominated exports in August rose 7.9 percent from a year earlier, picking up from a modest gain in July, customs data showed on Saturday.

Yuan-denominated imports rose 18.8 percent last month, resulting in a trade surplus of 179.75 billion yuan. Imports had risen 20.9 percent in July on year.

The world’s largest trading nation got off to a strong start this year, but the outlook is being clouded by a rapidly escalating trade dispute with the United States and cooling domestic demand.

President Donald Trump said last week he is prepared to quickly ramp up the trade war with China and is expected to impose duties on another $200 billion of Chinese imports soon. Beijing has vowed to retaliate.

China’s exports have been surprising resilient to several rounds of tit-for-tat tariffs so far, possibly as companies rush out shipments before the stiffer U.S. duties go into force, but factories have been reporting shrinking export orders for several months.

The General Administration of Customs is expected to release dollar-denominated trade data later on Saturday.

Reporting by Elias Glenn and Xu Jing Editing by Jacqueline Wong

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