Foreign trade in China is regaining lost ground, providing a solid floor under the real economy.

Exports skyrocketed 34.4 percent in August from a year earlier to $139.3 billion, said the General Administration of Customs.

Imports are bursting with vitality as well, surging 35.2 percent year on year to reach $119.27 billion in August, 12.5 percentage points faster from that in July. The trade surplus was $20.03 billion in August, 30.4 percent lower than that of July.

The trade surplus totaled $103.9 billion in the first eight months of the year, down 14.6 percent from the same period last year.

The export recovery slowed because the Chinese Government cancelled export rebates for 406 items, effective as of July 15, said Zuo Xiaolei, chief economist at the Beijing-based China Galaxy Securities Co. Ltd.

Meanwhile, demands from the rest of the world weakened as the global downturn lingered, she said.

But a bright spot was the faster-than-expected imports, a reflection of buoyant domestic demands, said Gao Shanwen, chief economist at the Shenzhen-based Essence Securities Co. Ltd.

In addition, the government will enhance efforts to facilitate imports, especially advanced technologies and key equipment, said Chong Quan, Deputy China International Trade Representative of the Ministry of Commerce.