China’s exports weaken in September, imports up 0.3%

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BEIJING (AP) — China’s export growth weakened in September while imports rebounded from a contraction as Chinese economic growth improved.

Exports rose 5.7% over a year earlier to $322.8 billion, down from August’s 7% growth, official data showed Monday. Imports gained 0.3% to $238 billion, recovering from the previous month’s 0.2% contraction.

The figures were in line with expectations that Chinese exports were likely to weaken as global consumer demand cools at a time when the Federal Reserve and central banks in Europe and Asia are raising interest rates to rein in surging inflation.

In this photo released by Xinhua News Agency, a high-speed electric passenger train, customized for the Jakarta-Bandung High-Speed Railway (HSR) project, is loaded onto a vessel in Qingdao Port in eastern China’s Shandong Province, Aug. 18, 2022. China reported Monday, Oct. 24, 2022 economic growth rises to 3.9% over a year ago in latest quarter, up from 0.4% in previous quarter. (Jiang Chao/Xinhua via AP)