China’s trade surplus at four-year high

China’s trade surplus grew last month to US$33.8 billion, its largest since January 2009, reflecting a pickup in global demand, Bloomberg reported. According to data from the General Administration of Customs in Beijing, outbound shipments rose 12.7% from a year earlier, exceeding projections, while imports increased by 5.3%. Rising demand from the US, Europe and South Korea is driving China’s export growth and helping to sustain recovery in the world’s biggest trading nation. This may give Premier Li Keqiang more room to implement free-market reforms and increase the role of domestic consumption in the economy.