China Trade Surplus Climbs to Record but Imports Drop

China’s trade surplus climbed to a record in November after an unexpected decline in imports (CNFRIMPY) underscored weakness in the world’s second-largest economy.

Overseas shipments rose 4.7 percent from a year earlier, missing the 8 percent median estimate in a Bloomberg News survey. Imports fell 6.7 percent, compared with projections of a 3.8 percent increase, leaving a trade surplus of $54.47 billion, the customs administration said today.

China’s ruling Politburo last week said it will maintain a prudent monetary stance and keep growth within a reasonable range in 2015. The People’s Bank of China last month lowered lending and saving rates for the first time in two years and increased the ceiling for deposit rates.

Bloomberg

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