China exports and imports both increase

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China's exports and imports surged in September, officials data showed Friday, providing President Xi Jinping a boost as he prepares to accept a second term as Communist Party chief this month.

That is the joint-highest monthly level this year, tying the figure from March.

China's exports expanded at a slower than expected pace but remained robust in September.

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The sanctions, which could cut off one-third of North Korea's total annual exports of US$3 billion, took effect in September, but China enforced the new measures from Aug 15. Imports rose 18.7 percent to $169.8 billion, an improvement from the previous month's 13.3 percent.

That left the country with a trade surplus of $28.47bn, less than the near $40bn expected and down from around $42bn in August.

He cited favorable factors for trade growth including mild recovery in the world economy, strong economic momentum inside China and good prospects for trade with other emerging markets.

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"Today's figures suggest that not only has strong foreign demand continued to prop up manufacturing activity in China but domestic demand remains resilient too", Julian Evans-Pritchard, China Economist at Capital Economics wrote in a note.

Customs spokesman Huang Songping did not provide the trade values for September, but said imports of coal, iron ore and apparel from North Korea all declined in the month, and there were no imports of seafood.

With the European Union, China's exports rose 10.4 percent and imports 30.9 percent.

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Authorities are in the midst of a campaign to reduce the risks from a rapid build-up in debt produced by years of credit-fueled stimulus, and sustained trade growth could give policymakers confidence to step up the campaign next year once the leadership reshuffle is out of the way.

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