China exports, imports surge

BEIJING: China's exports and imports surged as inflation abated in January, pointing to a rebound in external and domestic demand not solely explained by Lunar New Year holiday distortions, the first hard economic data of the year showed.

Exports grew 25% from a year earlier versus a forecast of 17% in a Reuters poll. Imports surged 28.8% to comfortably beat a consensus call of 23.3% and the resulting US$29.2bil trade surplus topped a market expectation of US$22bil.