China’s imports, exports hike on global economic resumption
September had seen China’s imports advancing at their most rapid pace this year. Meanwhile, the country’s exports rallied further as more trading partners lifted coronavirus-driven restrictions in a bid to support the world’s second-largest economy.
Imports advanced 13.2% in September. The figure reversed from a 2.1% drop in August as it came higher than the 0.3% increase expected by economists. Meanwhile, exports recorded a 9.9% increase from a year ago, customs data showed on Tuesday. The figure had met analysts’ predictions as it jumped from a 9.5% record in August.
The upbeat reading indicates that Chinese exporters are recovering from weak overseas orders. As the global economic activity resumes, companies in the country are rushing for market shares, with their rivals grappling with increased manufacturing capacity.