November trade surplus hits US$23.4bn

China's trade surplus came to US$23.4 billion in November, down slightly on the record US$23.8 billion posted in October, Bloomberg reported. The figures came from a report issued by state media. Exports rose 27.5% year-on-year in the first 11 months and imports increased 20.5%. The total trade surplus for the year to date is US$157 billion, an increase of more than 50% on the full year figure for 2005 of US$102 billion. The 2005 surplus was three times that recorded in 2004. With critics saying the yuan is still massively undervalued, making Chinese exports relatively cheaper as a result flooding the economy with cash, the US and Europe are expected to make stronger calls for further currency appreciation.