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![Trade surplus in September more than doubled from last year to $31 billion, compared with $49.8 billion seen in August [AP]](http://thebricspost.com/wp-content/uploads/2014/04/exim-china-bank1.jpg)
Trade surplus in September more than doubled from last year to $31 billion, compared with $49.8 billion seen in August [AP]
Imports increased 7 per cent year on year to $182.7 billion and total foreign trade volume rose 11.3 per cent to $396.4 billion, the General Administration of Customs (GAC) said.
The growth rate in imports in September also marked the highest level since December 2013, according to GAC.
Trade surplus in September more than doubled from last year to $31 billion, compared with $49.8 billion seen in August.
For the January-September period, China’s foreign trade added 3.3 per cent year on year to reach $3.16 trillion, with exports up 5.1 per cent at $1.7 trillion, imports up 1.3 per cent at $1.46 trillion.
Trade surplus in the first three quarters expanded by 37.8 per cent from previous year to $231.6 billion.
China has ruled out large-scale monetary stimulus in the near future despite a slowdown in the world’s second-largest economy, a senior economist with the Chinese central bank said Saturday.
“I don’t see the reason for big stimulus in the foreseeable future,” Ma Jun, chief economist at the People’s Bank of China (PBOC), said at a panel discussion on the sidelines of the Annual Meetings of the International Monetary Fund (IMF) and the World Bank.
Although the economic growth has “slowed a bit,” China’s job market “looks pretty stable,” because China’s economy is transforming from a manufacturing-dominated structure to a “more services-based” one, Ma said.
Source: Agencies
