China’s exports and imports rebounded more than estimated in July, adding to signs that the world’s second-largest economy is stabilizing following a two-quarter slowdown.
Shipments abroad rose 5.1 percent from a year earlier, the General Administration of Customs said in Beijing today. That compares with the median estimate for a 2 percent increase in a Bloomberg News survey and June’s 3.1 percent drop. Imports gained 10.9 percent, leaving a trade surplus of $17.8 billion.
Asian stocks advanced as the data showed exports to the U.S. and European Union, China’s biggest markets, increased for the first time in five months. Improved trade may bolster Premier Li Keqiang’s chances of achieving the year’s 7.5 percent target for economic expansion, after official manufacturing and service-industry indexes rose in July.