Customs official: China's export decline slowed in August

The vice head of the China’s General Administration of Customs said imports fell less sharply in August, though he did not provide specific figures, Reuters reported. Li Kenong said exports fell less year-on-year in August than the 23% drop reported in July, and represented a month-on-month gain. "From the recent months’ figures we can say that China’s exports will definitely become better and better over time, but it is still difficult to judge when it will turn to positive growth," Li said. Also on Monday, Fan Gang, an adviser to the People’s Bank of China, said exports would recover next year. Government stimulus spending would begin to play a less important role in economic growth, he added.