China's Trade Surplus Expands in December

In a remarkable turn of events, China's trade surplus climbed to $104.84 billion in December, a significant increase from November's $97.44 billion. This surge not only surpassed expectations but also highlighted the resilience of China's economy amidst global challenges, according to the latest report from the country's General Administration of Customs.

Export and Import Dynamics

Exports witnessed a substantial growth, soaring by 10.7% compared to the same month in the previous year when measured in dollar terms. On the other hand, imports saw a modest increase of 1% year-on-year, indicating a steady demand for foreign goods and services within China.

Local Currency Performance

When evaluated in local currency, the trade surplus was recorded at 752.91 billion yuan. The export sector experienced an annual increase of 10.9%, while imports grew by 1.3%, showcasing the robust nature of China's trade activities in its domestic market.