China’s exports rose by a better-than-expected clip in October, official data showed on Sunday, with demand strengthening in some key markets such as the US and COVID-19 numbers easing overseas.
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The data from the world’s second-largest economy also suggested that Chinese factories had kept the goods flowing out despite power outages in recent months caused by emission reduction targets, the surging price of coal, and supply shortages.
The government said last week that the power crisis was winding down thanks to a boost in domestic coal output.
Exports rose a better-than-expected 27.1 percent on-year in October, according to customs authorities, to $300.2 billion.
Imports came in slightly below analyst estimates, rising 20.6 percent in October.
In recent months, several Chinese factories were forced to halt operations due to power outages, raising concerns about global supply chains.
The squeeze had worsened as China’s COVID-19 border restrictions hindered shipments of raw materials from overseas while a trade tiff with Australia exacerbated the drop in coal imports.xxxx