HONG KONG: China’s exports rebounded to relatively strong growth in October while imports accelerated, adding to signs of a recovery in the world’s second-largest economy.
Exports rose 5.6 percent over a year earlier to $185.4 billion, government figures showed Friday. That was a marked improvement over September’s unexpected and rare decline of 0.3 percent, blamed on weak global demand.
The improvement in trade eases pressure on Beijing for additional economic stimulus, allowing communist leaders to focus on longer-term reforms meant to steer the economy to more sustainable growth based on domestic consumption instead of trade and investment.
Communist Party leaders are due to meet Saturday for an annual congress that reform advocates hope produces commitments to more market-style changes.
Economic growth rebounded to 7.8 percent in the three months ended in September after hitting a two-decade low of 7.5 percent the previous quarter.
Surveys of manufacturers by HSBC Corp. and a Chinese industry group show activity improved slightly in October. HSBC said companies reported their strongest hiring in seven months.
“China’s export numbers suggests some, although not yet decisive, improvement in global demand momentum,” said RBS economist Louis Kuijs in a research note.
“We expect actual export growth to rise in the coming quarters, reflecting a gradual economic upturn in the US and Europe.”
China’s exports rise to $185bn in October



