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ECONOMY
THIS WEEK> THIS WEEK NO. 47, 2012> ECONOMY
UPDATED: November 19, 2012 NO. 47 NOVEMBER 22, 2012
Mild Trade Improvement
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China's trade surplus widened in October, as export growth accelerated and import growth remained steady, said the General Administration of Customs.

Exports rose 11.6 percent from one year earlier in October, beating market expectations for a rise of 9 percent and stronger than the 9.9-percent increase registered in September.

Imports climbed 2.4 percent year on year in October, unchanged from the growth in September.

This resulted in a widening trade surplus of $31.99 billion in October, compared with $27.67 billion in September and $26.66 billion in August.

The rise in exports was the strongest since May, but analysts have been cautious to call it a solid recovery because of sluggish external demand.

Weakening demand was reflected in the recently concluded Canton Fair, China's largest biannual trade fair, where total turnover dropped 9.3 percent compared with the fair's spring session.

In the first 10 months, foreign trade volume expanded 6.3 percent from the same period last year.

China has targeted growth of 10 percent in total foreign trade this year, a figure that officials concede will be difficult to achieve.



 
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