China Q3 economic growth quickens to 7.8% yr/yr

Beijing: China`s annual economic growth quickened to 7.8 percent between July and September from 7.5 percent in the previous three months, the fastest growth this year and in line with expectations, official data showed on Friday.

Many investors have been concerned about the fragility of China`s economic revival, especially after a surprise fall in export growth in September.

The world`s second-largest economy grew 7.7 percent in the first nine months of 2013 from a year earlier, the data from the National Bureau of Statistics showed.

Other data released alongside the gross domestic product data showed industrial output grew 10.2 percent in September from a year ago, versus expectations of 10.1 percent showed in the Reuters poll.

Retail sales in September rose 13.3 percent on a year ago versus an expected 13.5 percent.

Fixed-asset investment grew 20.2 percent in the first nine months from a year earlier, versus an expected 20.3 percent. The government only publishes cumulative investment data.

China's trade strengthens as exports rise 7.2 %

Beijing: Global trading giant China's exports rose 7.2 percent in August year on year to USD 190.73 billion, fired mainly by Christmas and New Year orders to EU and US whose economies are showing signs of recovery.

The exports growth rate was 2.1 percentage points higher than July, figures released by China's General Administration of Customs said today.

Imports also saw a spurt in August, gaining 7 percent to USD 162.12 billion. Total foreign trade grew 7.1 percent in August over the same month of 2012 to USD 352.85 billion, the statement added.

Similarly, trade surplus widened by 8.3 percent year on year to USD 28.61 billion as export gains outpaced import gains, state-run Xinhua news agency reported.

In August, trade with the European Union, China's largest trading partner, rose by 3.2 percent, while that with the United States, China's second-largest trade partner, witnessed upward swing by 9.2 percent.

Analysts attribute the exports increase to heavy orders for the Christmas and New Year festive season in the western countries, which normally takes place in August and closes September.

China has emerged as the main global exporter of commodities for the annual festive season for over a decade.

The increase to EU and US markets were considered significant as China's economic slowed down to 7.5 percent mainly after the slump in their economies, which had a big negative impact on China's exports, the main stay of the country's economy.

Also China's trade with ASEAN (Association of Southeast Asian Nations) members increased 13.2 percent in August. But trade with Japan shrank 5.7 percent during the period as the two countries continue to squabble over the disputed islands in the East China Sea, which is having its toll on bilateral trade.

Exports of electronics and machinery products also grew by 6.8 percent to reach USD 106.54 billion in August, accounting for 55.9 percent of the total exports.

The recovery of exports comes at a time when China planned to deepen its economic reforms to halt the slowdown of its economy, which shrank to 7.5 percent in the second quarter with chances of missing this year's target of 7.5 percent growth.