China Commerce Minister: pick-up in exports suggests economy stabilizing


The acceleration in growth of China's exports in the last two months shows the world's second-largest economy is starting to stabilize, Commerce Minister Chen Deming told reporters on Saturday.

However, it will still be difficult for China to meet its target of full-year growth in exports of 10 percent, Chen said in a briefing on the sidelines of the Communist Party's five-yearly congress.

Continue Reading Below

Chinese trade data released on Saturday showed exports grew 11.6 percent in October from a year earlier, beating market expectations for a rise of 9 percent and stronger than the 9.9 percent increase recorded in September.

That was significantly quicker than export growth in July and August, which came in at 1.0 percent and 2.7 percent, respectively.

(Reporting By Lucy Hornby; Writing by Jason Subler)