China logs strong exports, imports, as economy gains steam

HONG Kong-The Associated Press

China has reported strong growth in both exports and imports in November in a reassuring sign for the world’s second-biggest economy.

Figures posted on Dec. 8 on the customs department website show exports expanded 12.3 percent to $217.3 billion in November over the previous month.

That’s nearly double the 6.9 percent pace recorded in October.

As global demand has surprised with its strength, consumers have lapped up Chinese goods at a rapid rate this year, giving the economy a boost and providing policy makers room to tighten rules to curb high-risk lending.

Imports jumped 17.7 percent year-on-year to $177.1 billion, leaving a monthly trade surplus of $40.2 billion.

The latest figures beat most economists’ forecasts and add to evidence that strengthening global and domestic demand is helping shore up China’s economic growth.

The optimism might not last as more trade frictions loom between China and the U.S. Last week Washington joined a dispute at the World Trade Organization over China’s status at the body.