Exports in dollars of the world's second-largest economy fell 6.8 percent from a year earlier, more than the 5 percent decline expected by economists and slightly lower than the 6.9% decline in October. The country's foreign exchange reserves also fell $ 87 billion, more than double the forecast. Last week, China also announced a series of poor economic data, with production slumping to its lowest level in more than three years, sluggish trade, demand for construction Slow down. Experts say Chinese policymakers may need more action, including after six times lowering interest rates and increasing public spending. Shanghai Securities economist Hu Yuexiao said that global demand was still at a bottom, similar to China's domestic economy. Trade forecasts for 2016 are still bleak. Oxford Economics Hong Kong expert Louis Kuijs said that global demand remained weak and that Chinese manufacturing activity was experiencing a disadvantage as the currency strengthened. The devaluation of many currencies against the US dollar, including the euro and the yen, has reduced the competitiveness of the Chinese manufacturing sector. According to a Bloomberg News survey, Chinese exports are expected to fall 2% this year. This will be the first year of the country's decline in exports since 2009. Meanwhile, ending the session on December 8, China's currency has fallen to 6.4172 yuan ($ 1), the lowest in four years, after the Central Bank (PBOC) lowered the reference exchange rate by 0.15% to 6.4078 yuan for a dollar, the lowest since Aug. 27. According to Zhou Hao (Commerzbank) experts, in the near future, NDT may drop more deeply. "A sharp decline in foreign exchange reserves shows that capital inflows are out of China and that PBOC is continuing to intervene in both the domestic and overseas markets," said Zhou Hao.
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