China’s dollar-denominated export contraction¹ softened² further in August as imports returned to growth for the first time since 2014.

8月份，中国以美元计的出口规模下滑幅度进一步收窄，而进口则自2014年以来首次重返增长。

Exports in US dollar terms fell 2.8 per cent year-on-year in August, moderating further from a softer fall of 4.4 per cent in July.

根据中国海关总署(General Administration of Customs)提供的数据，8月份中国以美元计的出口总值同比下跌2.8%，比7月份4.4%的较温和跌幅进一步放缓。

Imports paid for with the same currency followed the trend seen in renminbi-based trade, bouncing to growth of 1.5 per cent after having plummeted³ 12.5 per cent the month prior⁴, according to China’s General Administration of Customs.

而以美元计的进口总值则紧跟了以人民币计的贸易数据的变化趋势，在此前一个月同比暴跌12.5%之后，已反弹至增长1.5%。

The growth in imports was the first for dollar-based trade since October 2014.

对于以美元计的贸易数字来说，进口增长是2014年10月以来首次出现。

Median forecasts from economists⁵ had predicted exports and imports would drop 4 per cent and 5.4 per cent, respectively.

按照经济学家预期的中值，他们原本预计出口和进口会分别下滑4%和5.4%。

They also expected the dollar-based trade balance to rise to $58bn, whereas actual trade shook out to $52bn, up only $2bn from July’s balance of $50.23bn.

他们还预计以美元计的本月贸易顺差将攀升至580亿美元，而实际却只有520亿美元，低于7月份523亿美元的顺差。

Exports to most major trading partners fell again in year-on-year terms, but at rates less severe than months prior.

同比而言，对多数主要贸易伙伴国的出口再次下跌，不过跌幅没有此前一个月那么大。

Shipments to most major trading partners shrank less in annualised terms compared to the previous month, with some even returning to expansion.

与此前一个月相比，对多数主要贸易伙伴国的出口年化缩水幅度收窄，对部分国家甚至已重返增长。

Exports to the US fell only 0.2 per cent to $36.16bn compared to a 2 per cent drop in July.

对美国出口为361.6亿美元，同比仅仅下滑0.2%，相比之下7月份的下滑幅度则为2%。

Exports to the EU rose 2.4 per cent to $32.48bn after dropping 3.2 per cent a month earlier, while shipments to Asean countries fell 2 per cent last month, improving from a dip of 3.9 per cent in July.

对欧盟出口则同比上升2.4%，达到324.8亿美元，而此前一个月对欧盟出口还是同比下跌3.2%。同时，上个月对东盟(Asean)国家的出口下滑2%，比7月份3.9%的跌幅有所好转。

While exports to South Korea saw only marginal improvement to contraction of 0.8 per cent, those to Japan grew slightly at a rate of 0.3 per cent after falling more than 5 per cent in July.

对韩国出口的跌幅则是略有改善，达到下跌0.8%。对日本出口略有增长，增幅为0.3%，此前的7月份对日出口跌幅曾超过5%。

Much of the gains were offset⁶, however, by a 17.8 per cent fall to $23.32bn for shipments to Hong Kong, a vital re-exporting hub for the mainland.

不过，对香港出口的下滑却抵消了对多数国家出口的增长，对该地区的出口滑落至233.2亿美元，跌幅为17.8%。目前，香港是中国内地重要的出口转口贸易中心。

As reported earlier today, China’s renminbi-denominated exports rose 5.9 per cent year-on-year in July while imports purchased using the currency surprised with growth of 10.8 per cent.

据今日早些时候的报道，8月份中国以人民币计的出口同比增长5.9%，进口则令人惊讶地增长了10.8%。