Chinese companies shipped more goods overseas last month than expected, a sign of resilience that’s giving Beijing a stronger hand in the latest trade war with the US.Exports rose 8.3% in September from a year earlier, exceeding the 6.6% median forecast in a Bloomberg survey of economists. That was faster than in August and shows there’s no slowdown yet in the record-breaking flood of goods leaving China’s shores.
Imports grew 7.4%, far more than forecast, leaving a surplus of $90.5 billion.
The strength of demand from markets other than the US means that Chinese firms should be less affected by the further increase in tariffs threatened by President Donald Trump. Higher sales overseas are also providing a boost to the domestic economy, in deflation still struggling to reverse a decline in housing demand and prices.China is set to announce third-quarter data for economic activity on Oct. 20, with most analysts predicting a slowdown from the first half of the year. Still, a strong showing in the first two quarters all but ensures China will reach the official growth target of around 5%.Read Also: Stock market holidays: NSE and BSE closed on Dhanteras, Diwali — Check Muhurat trading time
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