China’s trade surplus climbed to a record as exports rose in August, helping leaders counter a property slump that threatens growth in the world’s second-largest economy.
Overseas shipments increased 9.4 percent from a year earlier, the Beijing-based customs administration said today, compared with the 9 percent median estimate in a Bloomberg News survey. Imports unexpectedly dropped 2.4 percent, leaving a trade surplus of $49.8 billion.
Strength in exports contrasts with other indicators showing manufacturing pulled back in August and investment slowed and new credit plunged in July. A boost from overseas demand will reduce pressure on the government to step up stimulus measures as it copes with risks to its economic-growth target this year of about 7.5 percent.
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