China Economic Watch: Trade Surplus Surges on Weak Imports; Auto Sales Up 5% in Apr

Trade Surplus Surges on Weak Imports
China's bilateral trade grew 2.7% year on year to $308.08 billion in April, where exports were up 4.9% to $163.25 billion and imports were up 0.3% to $144.83 billion, generating a $18.43 billion surplus, according to customs figures. The trade surplus was much bigger than the $5.35 billion recorded a month earlier as imports grew slower than estimated following Europe's debt problems and a domestic slowdown.

33% Chinese Firms Target Growth Via M&A: Grant Thornton
One-third of Chinese businesses want to grow by merging with and acquiring other companies in the next three years, lower than the 45% in 2011 and higher than the 26% in 2010, according to a survey by Grant Thornton China. Up to 43% of respondents had no idea how and from where they would get funding, well above the 23% last year, indicating the uncertainty over financing amid the economic slowdown.

Auto Sales Up 5% in Apr
Vehicle sales in China totaled 1.62 million units in April and 6.42 million units in the first four months of 2012, up 5.2% and down 1.3% respectively from the same periods a year ago, the China Automobile Manufacturers Association said.

LED Ads Takings to Exceed ¥2.7b by 2015
Revenue from LED ads and commercials in China is projected to total ¥1.55 billion this year and exceed ¥2.7 billion by 2015, according to Analysys International. The amount was up 35.5% to ¥1.22 billion in 2011.

$1 = ¥6.3