HEADLINE China Nov exports growth at eight-month high, imports up on commodities demand

HEADLINE

China Nov exports growth at eight-month high, imports up on commodities demand

Reuters

13:27, December 08, 2017

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Containers are seen at a port of Shanghai Free Trade Zone, Feb 11, 2014. /File Photo Reuters

China's exports and imports unexpectedly accelerated last month after slowing in October, an encouraging sign for the world's second-biggest economy which has started to slow in the face of a government crackdown on debt risks and factory pollution.

November exports jumped 12.3 percent from a year earlier, beating analysts' forecast of a 5.0 percent increase, and compared to 6.9 percent growth in October, the General Administration of Customs said on Friday.

The rebound boosted export growth to the fastest pace since March.

Imports grew 17.7 percent year-on-year in November, also well above expectations of 11.3 percent growth and rising at the fastest pace since September.

The numbers may help to ease concerns of slowing momentum in Asia's economic powerhouse, which had surprised markets with robust growth of nearly 6.9 percent in the nine months of this year, thanks to a government-led infrastructure spending spree and unexpected strength in exports.

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