Beijing, China: Chinese exports rose 9.9 percent in September year-on-year to a record high for a single month, the government said on Saturday, indicating resilience in the country’s trade despite an economic slowdown.
The national customs bureau also said the trade surplus of the world’s second-biggest economy, a source of friction with China’s trading partners, widened to $27.7 billion for the month, up from $26.7 billion in August. Global concern has mounted over a weakening trend in the Chinese economy, an important driver of global growth, as the broader global slowdown and the European debt crisis have recently impacted China’s exports.
But exports, the key indicator of the health of China’s economically vital manufacturing sector, climbed 9.9 percent in September, the General Administration of Customs said. Imports rose 2.4 percent.
The world’s largest exporter has been pulled down by weakness in overseas economies including debt-saddled Europe, a major trading partner, as well as a sluggish property market and softening consumer spending.
China has sought to encourage lending this year by taking the rare step to cut interest rates twice in rapid succession as well as reducing the minimum amount banks must hold in reserve. (AFP)