Published: Fri, October 13, 2017
Money | By Armando Alvarado

China's exports, imports pick up pace in September

China's exports, imports pick up pace in September

That is the joint-highest monthly level this year, tying the figure from March. Exports increased 8.1% in September, the customs administration said Friday, less than the 10% projected in a Bloomberg survey.

The country's trade surplus last month narrowed to 193 billion yuan ($29.3 billion) from 286.49 billion yuan in August.

The gain was stronger than the most optimistic forecast in a Reuters analysts poll.

In renminbi terms, exports advanced 9% and imports grew 19.5% in September.

China's total trade with North Korea between January and September rose 3.7% to US$4.03 billion, with the growth rate declining from 7.5% over the first eight months of the year.

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Capital Economics' China economist Julian Evans-Pritchard said the timing of the mid-Autumn festival this year also meant there were more working days last month than in September 2016, suggesting October figures should show a partial reversal.

It was the latest positive economic news for China after the International Monetary Fund's released a report this week raising the country's growth forecasts for 2017 and 2018 to 6.8 percent and 6.5 percent, respectively.

China-U.S. ties have also been strained by demands that Beijing do more to pressure North Korea over Pyongyang's nuclear and missile programs.

Trade volume for private enterprises also increased, as their combined volume rose 17.8 percent, compared with the share for the same period of previous year. The trade surplus was the lowest in six months.

Authorities are in the midst of a campaign to reduce the risks from a rapid build-up in debt produced by years of credit-fuelled stimulus, and the continued strength of imports and exports could give policymakers confidence to stick with their deleveraging push into next year.

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