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English>>China Business

Oct. performance boosts hopes of economic recovery

By Wang Yanlin (Shanghai Daily)

09:27, November 12, 2012

CHINA'S trade performance in October turned out to be better than expected, consolidating belief that economic recovery is taking shape in the world's second-largest economy.

But officials and analysts warned of uncertainties ahead as demand is still weak worldwide in the aftermath of the global financial crisis.

Exports expanded 11.6 percent from a year earlier to US$175.6 billion last month, and up from the increase of 9.9 percent in September, the General Administration of Customs said yesterday.

Imports gained 2.4 percent to US$143.6 billion, keeping the same pace as one month earlier.

As a result, the October trade surplus widened to US$32 billion from US$27.6 billion in September, the Customs data showed.

Despite the improved trade performance, Chinese Minister of Commerce Chen Deming yesterday cautioned that there were still tough times ahead.

"The trade situation will be relatively grim over the next few months and there will be many difficulties next year," Chen told reporters on the sidelines of the 18th National Congress of the Communist Party of China.

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