China's trade surplus grew to $938 billion for the first nine months of the year. This puts the country on pace to exceed last year's record as export growth surged faster than expected in September.
The country's customs agency reported that exports rose 36.3% from a year earlier in September, beating market expectations. This represents the biggest leap since the COVID-19 pandemic and the fastest pace in almost any month since the end of the global financial crisis. The surge potentially threatens to heighten trade tensions with major partners.
Imports also remained robust, increasing 31.0% compared with 28.2% growth in August. This growth surpassed economists' forecasts of a 24.5% gain.