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Exports push China's trade surplus to record

Beijing - Chinese exports rose 9.4% year-on-year to $208.5bn in August, according to government data released Monday.

The country's monthly trade surplus reached an all-time high of $49.8bn, a jump of 77.8%, the General Administration of Customs reported.

Chinese imports continued to contract in August, with a year-on-year decrease of 2.4% to $158.6bn.

Through the first eight months of the year, total trade was up 2.3% to $2.77trn, the administration said.

The rise in exports reflects China's "continuously improving external demand," said analysts at the Australia and New Zealand Banking Group (ANZ).

"Following a strong 14.5% year-on-year rise in exports in July, the pace softened to 9.4% in August, still above the 9.0% consensus," Berenberg Bank said.

"After a period of weak data from February ... export growth has picked up again to rates that are easily compatible with GDP growth of around 7.5%," Berenberg said.

It said the weaker imports, caused partly by lower prices of some raw materials, were expected to "recover later this year as Chinese domestic demand continues to expand" in line with 7.5% economic growth.

China's annual economic growth slumped to 7.7% in the last two years, the slowest since 1999, and is not expected to increase this year.

The ruling Communist Party set a broad target of 7.5% for this year's growth.

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