China Trade Surplus Surged to Another Record $133.6 billion Thru Oct.
Exports in October totaled $88.1 billion, up 29.6% from the same month last year, while imports rose 14.7% to $64.3 billion, the customs agency said. October imports growth was the slowest pace in 15 months.
China's large trade surplus helped drive the nation's foreign exchange reserves to almost $1 trillion, a big source of cash into the banking system, which in turn is being lent out for new factories and real estate projects.
China's trade surplus typically widens in the fourth quarter as retailers in the U.S., Europe and across Asia stock up on Chinese-made electronics, toys and clothes ahead of Christmas.