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Chinese President Hu Jintao shakes hands with a relative of "renowned Chinese educator and social activist Sun Qimeng" in Beijing, capital of China, March 09, 2010. White is the Chinese colour of mourning.
China's exports jumped by 46% in February compared with a year ago, confirming the robust recovery in the Asia region. China's imports also rose strongly, climbing by 44.7% last month.
The increase in exports was higher than analysts' expectations and is likely to increase pressure on the Chinese government to raise the value of the yuan, which the US in particular complains is undervalued. However a fall in exports compared with January may bolster the case for delaying a change.
Seasonally adjusted exports last month fell 2.2% from January and China's trade surplus narrowed to $7.61 billion in February from $14.17 billion in January while the General Administration of Customs (GAC) announced that exports in February were valued at $94.52 billion and in a pre-global recession comparison, were up 8.2% compared with the same month in 2008, while imports increased 9.8%..
The GAC combined data from January and February to show a more accurate picture of trade conditions as trade figures could have been distorted by China's seven-day Lunar New Year holiday falling at different times in January and February.
Exports surged 31.4% to $204 billion in the first two months over the same period last year. Imports stood at $182.3 billion, up 63.6%.
The European Union and United States remained China's two largest trade partners. Trade with the EU grew 34.5% to $65.53 billion, and with the US, it rose 25.1% to $49.32 billion.
Trade with the 10 Asian countries of the Association of Southeast Asian Nations (ASEAN) surged 66% to $39.12 in the first two months.
ASEAN overtook Japan as China's third largest trade partner in January after the China-ASEAN free trade area was launched on Jan 01, 2010.
Exports of machinery grew 29.4% to $40.73 billion and exports of appliances and electrical products added 32.4% to $46.05 billion. The two sectors accounted for 58.3% total export value in the first two months.
