China's imports grew at their fastest pace this year in September, while exports extended strong gains as more trading partners lifted coronavirus restrictions in a further boost to the world's second-biggest economy.
Exports in September rose 9.9% from a year earlier, customs data showed today, broadly in line with analysts' expectations and up from a solid 9.5% increase in August.
The strong trade performance suggests Chinese exporters are making a brisk recovery from the pandemic's hit to overseas orders.
As the global economy restarts, Chinese firms are rushing to grab market share as their rivals grapple with reduced manufacturing capacity.
China's factory activity has also picked up as international trading gradually resumes.
But some analysts warn exports could peak soon as the demand for Chinese-made protective gear recedes and the base effect of this year's massive declines wears off.
Imports surged 13.2% in September, returning to growth from a fall of 2.1% in August and much stronger than expectations for a 0.3% increase.
Analysts said the data showed government support for the economy has kicked in as the epidemic comes under control.
They said this has boosted domestic demand, especially investment-led demand, which buoyed imports. The yuan's recent appreciation was positive for imports and people's spending power, they added.
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 billion.
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.
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 US 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.
Today's figures showed that China's trade surplus with the US narrowed to $30.75 billion in September from $34.24 billion in August.
