In October, China saw its biggest trade surplus in close to four years. That gave the economic recovery in the country one of its biggest boosts of late, but could potentially add fire to the outside criticism of China’s for its support for its own exporters.
Exports in China were up 11.6% during October, which topped market estimates and pushed the surplus in trade to $32 billion, the largest in China since early 2009.
This data follows previous data that showed retail sales and investment both had increased in October. These new strong trade figures have added to recent evidence that the economy in China is ready to have a mild rebound during the fourth quarter after having slowed down for seven consecutive quarters.
China is on track to have growth of less than 8% for the entire year overall, which is its weakest growth in over a decade.
This week the elite of the communist party are meeting in Beijing for the transition of power for the next decade and that means the positive economic data could not have been delivered at a better time.
Commerce Minister Chen Deming, speaking at congress to reporters said the rise in exports pointed to a slight stabilization in the economy. He said the situation in the economy has improved slightly.
However, he warned that the outlook is still the same, which is there has not been a change to the lack of sufficient global demand and there has been a rise in trade protectionism.
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