China December trade balance data Trade Balance surplus of 382.05bn CNY Dec • expected 338.80b, prior was 343.10b Exports +2.3% y/y • expected -4.1%, prior was -3.7% Imports -4.0% y/y • expected-7.9%, prior was -5.6% More: • 2015 exports -1.8% y/y (yuan terms) • 2015 imports -13.2% y/y (yuan terms) - IN USD terms ... still to come Trade Balance • expected is $51.30b and prior was $54.10b Exports % y/y • expected -8.0%, prior -6.8% Imports % y/y • expected is -11.0%, prior -8.7% (full story)