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China exports rise by 5.6%, beat forecasts
November 8, 2013, 6:30 am

Chinese workers check Spiderman dolls assembled for export in Guangdong province in China [Getty Images]

Chinese workers check Spiderman dolls assembled for export in Guangdong province in China [Getty Images]

China’s exports saw a sharp rebound in October, rising 5.6 per cent year on year in October to 1.14 trillion yuan ($185.4 billion).

The new figures were released on Friday by China’s General Administration of Customs and is expected to bolster confidence ahead of a key Communist Party meet this weekend to lay out a blueprint for the Chinese economy.

Imports rose 7.6 per cent last month from a year ago, accelerating from September’s 7.4-per cent rise, new data showed.

This left China with a trade surplus of 192.38 billion yuan in October, down 3.3 per cent year on year.

In the first 10 months of 2013, exports and imports gained 7.6 per cent from a year earlier, with the trade surplus growing 12 per cent year on year to 1.25 trillion yuan.

Trade with Association of Southeast Asian Nations (ASEAN) members grew 10.9 per cent during the January-October period.

For the same period trade with the European Union, China’s largest trade partner, climbed 0.5 per cent, while trade with the United States, China’s second-largest trade partner, rose 6.9 per cent.

With the territorial dispute adversely impacting Sino-Japanese ties, trade with Japan, declined seven per cent.

Source: Agencies

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