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China reports record trade

China posted a record trade surplus in October. Exports grew more than expected by 27.1 percent to $300.2 billion (€259.3 billion) in October from a year earlier, Reuters reported. It cited rising global demand for the Christmas season, easing power shortages, and fewer disruptions in supply chains as the reasons. The People’s Republic’s imports, on the other hand, were up 20.6 percent, almost five percentage points below expectations. General weakness in domestic demand was cited for this. China’s trade surplus stood at $84.5 billion US in October, a good $18 billion above the September figure. nib

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