China’s trade growth accelerates in September; exports up 9.9%

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China’s trade growth accelerates in September; exports up 9.9%

In what could be contemplated as a brighter spot amidst a beaten-down global economic landscape, China’s trade had stepped up robustly last month as a rising global demand of face mask alongside medical kits alongside an early re-opening of the country’s economy had provided the world’s second-largest economy with an upper-hand over its competitors abroad.

In point of fact, earlier on Tuesday, China’s customs data had revealed that the country’s exports rose about 9.9 per cent to $239.8 billion in September compared to the same time a year earlier, marking up the fourth straight month of gains, while imports surged 13.2 per cent to $202.8 billion on a year-on-year basis as the world’s No.

2 economy appeared to be regaining its footings much-earlier than anticipated. Aside from that, a 9.9 per cent rise in China’s exports last month followed a 9.5 per cent gain in August, while an upsurge of 13.2 per cent in imports followed a contraction of 2.1 per cent a month earlier as domestic business investments seem to have regained momentum.

China reports fourth straight month of gain in exports

Meanwhile, addressing to an unprecedented pace of recovery in China trade that was thought to have bolted out of the blue, a spokesman for the Chinese Customs Agency, Li Kuiwen was quoted saying that the exports had witnessed a “comprehensive recovery” over the three-month period that ended on September 30, while Kuiwen had also added the world’s second-largest economy had exported an approximated $150 billion worth of masks alongside other critical medical supplies.

Besides, speaking in a news conference following release of China trade data for September, Li said, “China has successfully filled the global supply shortage,” while several Wall St.

analysts were quoted saying that the Chinese exporters had been largely benefitted from an early resumption of trading activities and the pandemic-related demands of Chinese goods would unlikely to phase out in a near- to -intermediate-term outlook.