China's trade surplus more than doubled in October, boosted by a stronger-than-expected rebound in exports, data from the General Administration of Customs showed Friday, suggesting that the economic recovery is gaining traction.
The positive data will encourage Chinese leaders, gathering in Beijing this weekend for a key Communist Party meeting, to accelerate efforts to unlock another wave of economic reforms.
The trade surplus jumped to $31.1 billion in October from $15.21 billion in September. Economists expected an increase to $24.8 billion.
The country's exports grew 5.6 percent year-on-year in October compared with forecast for a 1.7 percent rise. For September, overseas shipments had fallen 0.3 percent.
Imports grew 7.6 percent annually, faster than the 7.4 percent increase in the previous month. Economists expected imports to grow at a similar pace as in September.
Top Chinese leaders will gather in Beijing for the third plenum meeting of the 18th Communist Party of China, or CPC, Central Committee, starting Saturday to discuss the next round reforms needed to restructure the economy.
In a speech earlier this week, Premier Li Keqiang said that China may need a growth rate of 7.2 percent in order to create sufficient jobs in the economy. He also noted that short-term stimulus to boost economic expansion will not be sustainable in the longer-term.
China's gross domestic product expanded 7.8 percent year-on-year in the July-September period, the fastest pace this year, government data showed last month.
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