China's consumer price index (CPI), a main gauge of inflation, grew 1.6 percent year on year in October, the National Bureau of Statistics (NBS) revealed on November 10.

The growth showed similarity to September's, which was the lowest since January 2010, the NBS said.

On a monthly basis, October's CPI was flat against the previous month, compared with September's 0.5-percent increase.

The inflation index grew 2.1 percent year on year in the first 10 months, well below the 3.5-percent full-year target set by the government.

Meanwhile, China's producer price index (PPI), which measures inflation at wholesale level, dropped 2.2 percent year on year in October, the NBS said.

On a monthly basis, the PPI index contracted 0.4 percent from the previous month, the same as that of September.

The PPI declined for the 32nd straight month and more quickly than the previous month, which indicates existing pressure from subdued manufacturing activities and economic growth momentum.

The PPI had dropped 1.8 percent year-on-year in September, 1.2 percent in August and 0.9 percent in July.

In the first 10 months, the country's PPI dropped 1.7 percent year-on-year.

Surging Exports

China's exports rose 11.6 percent year on year to hit $206.87 billion in October, data from the General Administration of Customs showed on November 8.

The October growth rate has decelerated compared to September's 15.3 percent, which was the fastest growth rate in 19 months.

Imports in October stood at $161.46 billion, up 4.6 percent.

Total exports and imports rose 8.4 percent to $368.33 billion in October, as trade surplus expanded to $45.41 billion, up 46.3 percent.

In the first 10 months of this year, China's total exports and imports hit $3.53 trillion, up 3.8 percent. Trade surplus during the period stood at $277.11 billion, up 38.5 percent year on year.

During the January-October period, trade with the European Union, China's largest trading partner, saw the fastest growth of 9.8 percent, amounting to $509.23 billion.

Trade with the United States, China's second largest trading partner, came in at $453.74 billion, up 5.5 percent. China-ASEAN trade went up 7.4 percent to $391.72 billion.

In contrast, trade between the Chinese mainland and Hong Kong fell 10.1 percent to $297.05 billion in the first 10 months, while trade with Japan fell 0.1 percent to $259.51 billion.

Energy Agreement

China and Russia signed agreements on November 9 to boost their energy cooperation, including a memorandum of understanding (MOU) to develop a second route to supply China with Russian natural gas.

Chinese President Xi Jinping and his Russian counterpart Vladimir Putin witnessed the signing of a series of bilateral cooperation agreements, including an MOU of the China-Russia West Route natural gas pipeline and a framework agreement between China National Petroleum Corp., China's largest oil and gas producer, and Russia's energy giant Gazprom.

The two countries have seen broader and closer feasible cooperation in new situation, according to the two leaders.

They agreed to push forward the construction of the east route gas pipeline as scheduled, launch the west route at an early date, negotiate major oil projects in an earnest manner and discuss new cooperation projects of nuclear power and hydropower.