China logs strong exports, imports, as economy gains steam

Markets Associated Press

China reported strong growth Friday in both exports and imports in November in a reassuring sign for the world's second-biggest economy.

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Figures posted on the customs department website show exports expanded 12.3 percent to $217.4 billion in November over a year earlier.

That's nearly double the 6.9 percent pace recorded in October.

Imports jumped 17.7 percent year-on-year to $177.2 billion, leaving a monthly trade surplus of $40.2 billion.

The latest figures beat most economists' forecasts and add to evidence that strengthening global and domestic demand is helping shore up China's economic growth.

The optimism might not last as more trade frictions loom between China and the U.S. Last week Washington joined the European in a dispute at the World Trade Organization over China's status at the body.

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They're opposed to giving China market economy status, which would make it harder for them to win anti-dumping cases against Beijing for exporting goods at improperly low prices.