China’s Economy Swiftly Rebounding, Boosted by International Trade

"This has boosted domestic demand, especially investment-led demand, which buoyed imports," Wang said, adding that the yuan's recent appreciation was positive for imports and people's spending power.

The Chinese yuan rose to a 17-month high against the dollar on Friday.

The rise in imports pushed the trade surplus for September down to $37 billion, compared with $58.93 billion in August and lower than an expected $58.00 billion.

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Across products, China bought more soybeans, grains, semiconductors, copper, and steel products in September, customs data showed.

Analysts expect imports to stay on an improving trend, underpinned by strengthening domestic demand.

Zhang Jun, Chief Economist at Morgan Stanley Huaxin Securities, said higher purchases of US agricultural and energy products as China implemented the Phase 1 US-China trade deal, and the resumption of logistics services in the United States and Europe contributed to China's import strength.

Top US and Chinese trade officials reaffirmed their commitment to a Phase 1 trade deal in a phone call in August.

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China's trade surplus with the United States narrowed to $30.75 billion in September from $34.24 billion in August. 

(Writers: Gabriel Crossley, Stella Qiu, Colin Qian | Editors: Sam Holmes, Richard Pullin)

Source: https://uk.reuters.com/article/uk-china-economy-trade/chinas-imports-exports-surge-as-global-economy-reopens-idUKKBN26Y0AF