BEIJING (AFP) – Chinese exports surged last month at their fastest pace in more than two years, data showed yesterday, easily topping forecasts and providing optimism about the economy.
The reading also came after Beijing began unveiling a raft of measures aimed at kickstarting growth with an emphasis on the troubled property sector, boosting hopes that years of post-COVID malaise may be nearing an end.
Exports climbed 12.7 per cent to USD309.1 billion last month, the General Administration of Customs said, well above the 5.0 per cent forecast by analysts in a Bloomberg survey and far higher than the previous month. The figure is the best since mid-2022.
The world’s second-largest economy has struggled to achieve a full post-pandemic recovery, with sluggish domestic consumption and a persistent debt crisis in the property sector hammering growth. However, in a sign that much more needs to be done to reignite demand at home, yesterday’s figures showed imports slipped 2.3 per cent, more than expected and a reversal from September’s slight growth.
