China's Aug exports growth unexpectedly picks up speed in boost to economy

BEIJING : China's exports unexpectedly grew at a faster pace in August, as solid global demand offset some of the pressure on the world's second-biggest economy from a resurgence of domestic COVID-19 cases and supply bottlenecks.

Shipments from the world's biggest exporter in August rose at a faster-than-expected rate of 25.6per cent from a year earlier, from a 19.3.per cent gain in July, pointing to some resilience in China's industrial sector.

Imports increased 33.1per cent year-on-year in August, beating an expected 26.8per cent gain in the Reuters poll and compared with 28.1per cent growth in the previous month. Many analysts expect the central bank to deliver a further cut to the amount of cash banks must hold as reserves later this year to lift growth, on top of July's cut https://www.reuters.com/article/us-china-economy-rrr-cut-idUSKCN2EF0U4 which released around 1 trillion yuan in long-term liquidity into the economy.

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