China's exports rise 11.6% in Oct

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BEIJING - China's exports rose 11.6 percent year on year to $206.87 billion in October, customs data showed on Saturday.

The growth rate for October has decelerated compared to September's 15.3 percent, which was a fastest growth rate in 19 months. 

Imports in October stood at $161.46 billion, up 4.6 percent, according to the data released by the General Administration of Customs (GAC). 

Total exports and imports rose 8.4 percent to $368.33 billion in the month, as trade surplus expanded to $45.41 billion, up 46.3 percent. 

"Imports and exports in October have both extended a growth trend from the previous month," the GAC said in a press release. 

In the first ten months of this year, China's total exports and imports hit $3.53 trillion, up 3.8 percent. Trade surplus during the period stood at $277.11 billion, up 38.5 percent year on year. 

During the Jan-Oct period, trade with the European Union, China's largest trading partner, saw the fastest growth of 9.8 percent, amounting to 3.12 trillion yuan. 

Trade with the United States, China's second-largest trading partner, came in at 2.78 trillion yuan, up 5.5 percent. China-ASEAN trade went up 7.4 percent to 2.4 trillion yuan. 

In contrast, trade between the Chinese mainland and Hong Kong fell 10.1 percent to 1.82 trillion yuan in the first ten months, while trade with Japan fell 0.1 percent to 1.59 trillion yuan. 

The GAC said that foreign-invested companies were the main trade bodies, with their total trade volume during the period accounting for 46 percent of the nation's total trade during the first ten months, compared to 34.6 percent held by privately-owned companies and 17.7 percent by state-owned firms. The rest tiny portion came from micro-sized or individual businesses. 

Exports including machinery, garments, textiles, shoes, toys, plastics rose during the first ten months, while exports of electronic products, home furniture and vehicles fell.