China's trade growth accelerates

China's trade growth accelerates

Imports in September rose 19.5% in yuan terms from a year earlier, compared with a 14.4% rise in August, the General Administration of Customs said. Trade surplus versus the USA rose to a record $28.1 billion.

BEIJING-China's exports grew 9.0% in September from a year earlier in yuan terms, following a 6.9% gain in August, official data showed Friday.

China's economic data have been showing robust growth ahead of leadership changes set to happen at the upcoming Party Congress.

Once again, China's imports were led by industrial resources as a year-long construction boom shows no signs of flagging and factories kept humming, boosting demand for materials from steel to copper.

Trade volume for private enterprises also increased, as their combined volume rose 17.8 percent, compared with the share for the same period of a year ago.

"Nonetheless, today's figures suggest that not only has strong foreign demand continued to prop up manufacturing activity in China but domestic demand remains resilient, too", Evans-Pritchard said.RECORD TRADE SURPLUS WITH U.S.

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The gap, almost 20 percent more than the same period a year earlier, was attributed to service imports in tourism, transportation and other traditional sectors, the MOC said.

As result, the trade surplus totaled USD28.47 billion in September versus the expected level of USD38.0 billion.

He cited favorable factors for trade growth including mild recovery in the world economy, strong economic momentum inside China and good prospects for trade with other emerging markets.

Trade surplus shrank 17.7 percent to 2.03 trillion yuan in the same period.

China's imports from North Korea fell 37.9 percent in September from a year earlier, marking the 7th consecutive month of decline, while exports dropped 6.7 percent.

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