August trade data boosts China economy hopes

Chinese exports rose higher-than-expected in August, pointing to a stabilization in the economy, Reuters reported, citing official data. The Customs Administration said on Sunday that exports rose 7.2% in August from a year earlier and imports rose 7%, leaving the country with a trade surplus of US$28.6 billion for the month. Exports to the US rose 6.1%, faster than July’s 5.3% gains. Exports to the European Union rose 2.5%, little changed from July’s gain, while exports to Japan contracted for the seventh straight month.