Exports expand in Aug amid signs of recovery

The accelerated pace of China's exports in August has added to the signs of a gradual recovery, experts said on Sunday.

Exports jumped in August by 7.2 percent from a year earlier to $190.73 billion, compared with 5.1 percent growth in July, the General Administration of Customs said on Sunday.

A "god of fortune" extends his good wishes at a ceremony to mark the start of the 17th China International Fair for Investment and Trade on Sunday in the coastal city of Xiamen, Fujian province. More than 670 delegations from 100 countries and regions are attending the fair. Zhu Xingxin / china daily

But imports increased by only 7 percent year-on-year to $162.12 billion, down from the 10.9 percent increase in July, leaving China with a $28.61 billion trade surplus.

Overall foreign trade grew 7.1 percent year-on-year in August to $352.85 billion, compared with the 7.8 percent increase in July.

Zhang Liqun, a researcher at the State Council's Development Research Center, said the boost in exports was the result of favorable government policies.

China has exempted all outbound goods, transport vehicles and containers from inspection and quarantine fees from Aug 1 to Dec 31.

"The 7.2 percent growth rate indicates a clear recovery of exports," Zhang said.

Meanwhile, Vice-Premier Ma Kai pledged on Sunday that the government will increase its efforts to open up the market and gradually enhance China's position in the global value chain.

Ma made the remark in a keynote speech at the International Investment Forum 2013, a key event in the 17th China International Fair for Investment and Trade.

The annual fair, known as CIFIT and held in Xiamen. Fujian province, from Sunday to Wednesday, is one of the world's major events to promote trade and investment.

Ma said that China is still at the lower end of the global value chain.