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China trade up sharply

October 13, 2014

The Chinese government has reported trade activities in the world's second-largest economy have been up sharply in recent weeks. It said the surge was driven by strong domestic demand, but pundits have their misgivings.

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Trade containers in a Chinese port
Image: picture-alliance/dpa

Chinese export volumes reached $213.7 billion (168.3 billion euros) in September, marking a 15.3-percent rise year-on-year, the General Administration of Customs reported Monday.

Imports grew by 7 percent in the same month to $182.7 billion, resulting in a monthly trade surplus of $31 billion and down from an all-time high of $49.9 billion in August.

Chinese trade with the European Union was up by 10.2 percent, accounting for 14.5 percent of the Asian nation's total.

Growth worries persist

The government in Beijing said the trade surge reflected a recovery in global demand and domestic measures to stimulate the economy.

But analysts took a more cautious stance, warning the pickup might not be sustainable.

"The improvement is expected to be short-lived," said Julian Evans-Pritchard, China economist with Capital Economics. He cited oversupply in the struggling property sector and subdued commodity demand.

China's annual economic growth slowed to 7.7 percent in the last two years, falling to levels not seen since 1999. Beijing expects no increase for this year either.

hg/sgb (Reuters, dpa, AFP)