NEW YORK (TheStreet) -- For those looking for bullish economic news from China after last month's meeting of Communist Party officials, go no further than the recent General Administration of Customs report.
It shows export shipments rose by 12.7% in November from last year's mark, higher than the 5.6% increase in October and topping analyst projections of 7%. Imports also grew by 5.3%.
Those bullish figures are great for companies dependent on the Chinese market, especially BHP Billiton (BHP), Rio Tinto (RIO), Caterpillar (CAT - Get Report) and Boeing (BA - Get Report).
As detailed in a previous article, China is now focusing more on consumer demand to drive its economy. But that still requires a great deal of raw materials and equipment to power the world's second-largest economy.
To produce a car for a consumer takes large amounts of steel, copper and other industrial minerals and manufacturing systems. Rio Tinto, a British industrial metals firm, will reportedly be spending $2 billion to increase iron ore production to meet the increasing demand for steel from China. Sales to China are projected to be at a record level this year for Rio Tinto.
Australia's BHP Billiton is the world's largest natural resource company.
Like much of the Australian economy, its health is based on how well China is doing. Iron ore shipments from Port Hedland, Australia, rose by 43% in October to China, which is very bullish for BHP Billiton (and the entire country). While the People's Republic wants consumer spending to increase, it initiated a massive public works program last year to develop urban areas so that hundreds of millions of those individuals can now move from the countryside into cities. At a cost of over $100 billion annually, it will require a great deal of industrial minerals in the building process.