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Hope for recovery in China bolstered by new data
Hope for recovery in China bolstered by new data

A continuous improvement was displayed by better-than-expected trade data in demand for Chinese goods. This comes as the latest indication of recovery for the world's third-largest economy.

Wednesday, the official figures were released that forwarded a plunge in China's exports in September at the slowest pace in nine months, sinking 15.2 per cent on the previous year.

A drop by 3.5 per cent year-on-year was witnessed in imports over the same period. This is the smallest drop since imports started to slip in November 2008. The August data had displayed contraction by 23% and 17% in exports and imports respectively, and both the present figures have come as prominent improvements over the earlier data.

In end 2008, export trade for China fell because of the global economic crisis, which adversely affected the demand for Chinese goods.

Brian Jackson, a Hong Kong-based senior strategist at the Royal Bank of Canada Jackson expressed, "Chinese growth this year has been heavily reliant on government-directed investment, which is why senior officials have continued to characterise the recovery as not broadly based or firmly established."