Exports jump 28% but trade surplus narrows

Chinese exports surged 28% year-on-year to US$64.99 billion last month, the Wall Street Journal reported, but economists warned the Lunar New Year holiday may have distorted the figures as Chinese companies scrambled to export more in a shorter period. Ministry of Commerce figures showed imports jumped 25% to US$55.5 billion during the same period, while the trade surplus narrowed to US$9.49 billion, down from US$11 billion in December. Meanwhile, a National Bureau of Statistics spokesman told Shanghai Securities News that China's trade surplus will continue to narrow this year from last year's record US$101.88 billion, due to the lag effect of the yuan's gradual rise.