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China’s sees surge in imports, exports with ease in trade restrictions

In September, the mainland’s exports increased 9.9 percent from the previous year

The world’s second-largest economy China sees a rebound in its exports and imports as trading partners ease Covid-19 based restrictions due to a decrease in the number of cases. The rebound among Chinese exporters indicate a brisk recovery from the pandemic’s impact on overseas orders. It is reported that China’s exports surged 9.9 percent in September from a year earlier. The figures are higher than the earlier predictions made by industry leaders. In August the exports increased by 9.5 percent.

Chinese companies are ready to acquire market share as the global economy shows signs of recovery. However, the potential risk of relapse continues as some countries including India are reporting a second-wave of coronavirus. 

Capital Economics Senior China Economist Julian Evans-Pritchard, told the media, “The big picture is that outbound shipments remain strong, with easing demand for Covid-19 related goods such as face masks being mostly offset by a recovery in broader demand for Chinese-made consumer goods. A jump in imports suggests that domestic investment spending remains strong. China’s factory activity has also picked up as international trading gradually resumes.”

In China, the imports surged 13.2 percent in September, making a strong comeback from a 2.1 percent slump in August. Industry experts earlier suggested a 0.3 percent slump but results turned out to be better. That said, there is also a 35.8 percent surge in imports from Taiwan, while imports from the US surged 24.7 percent from a year ago. However, imports from Australia slumped 9.5 percent.

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