BEIJING: China maintained a strong appetite for major commodities in the first eight months of 2015, despite economic headwinds, customs data showed here the other day.
From January to August, crude oil imports grew 9.8 percent year on year to 221 million tons, and refined oil imports climbed 4.1 percent to 20.49 million tons compared to the same period last year, according to the General Administration of Customs (GAC).
Grain and soybean imports also rose 24.4 percent and 9.8 percent to 83.5 million tons and 52.39 million tons year on year, respectively, said the GAC.
Analysts attributed the commodity import growth to China’s pro-growth measures, including policies to step up recovery in the property sector, spur domestic demand and prop up the economy.
Despite the rise in commodity imports in the first eight months of 2015, the value of imports fell 14.6 percent to 6.72 trillion yuan ($1.06 trillion) in the Jan-Aug period due to falling prices of commodities and primary raw materials amid weak global demand, GAC data showed.
