The major Shanghai SSE Composite index closed higher this morning (December 10th) after official data revealed the world's second-largest economy witnessed slower-than-anticipated growth last month.
Exports grew by 2.9 per cent while imports were flat compared to October, after analysts projected that November's export trade would soar by nine per cent.
This lack of growth is due to subdued global demand for Chinese products.
But despite quiet trade, analysts claim the recovery is still on track and that the recent period of stagnation may be over.
China's economic growth – which is considered a key driver in the global recovery – was sluggish in the third quarter, sliding to a three-year nadir of 7.4 per cent, with weak export growth and little improvement in the domestic market contributing the most to this inertia.
At the end of the day's trading in Shanghai this morning, the SSE Composite rose by more than one per cent to an index value of 2083.7 points.
Learn all about spread betting platforms at City Index.
GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.