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Chinese exports, imports surge as economy to grow 7.5pc

Chinese exports, imports surge as economy to grow 7.5pc

BEIJING: China’s exports and imports has increased more than expected in September as its economy is likely to grow around 7.5 per cent this year.

According to Central Bank Governor Zhou Xiaochuan, China’s labour market is performing better than expected and the central bank would continue to implement prudent monetary policy.

Meanwhile, Chinese Customs data shows that the world’s second-largest economy’s trade surplus has doubled to US$31.0 billion as exports rose 15.3 per cent to $213.7 billion, while imports climbed 7.0 per cent to $182.7 billion.

The rise in exports accelerated from August’s 9.4 per cent and was ahead of the median forecast of 12.5 per cent in a poll of 15 economists by Dow Jones Newswires. The survey had predicted a fall of 2.4 per cent in imports, matching a surprise decline in August.