China's import and export growth accelerates in September, suggesting the world's second-biggest economy is still expanding at a healthy pace despite widespread forecasts of an eventual slowdown. Ciara Lee reports.
The head of the International Monetary Fund addressing central bankers from around the world. And giving a thumbs up to the global economy. (SOUNDBITE) (English) IMF DIRECTOR CHRISTINE LAGARDE SAYING: "What we are seeing is a recovery that is stronger, that is much more broadly based than in recent years. And we expect higher global growth this year and next." Supporting Lagarde's statement, China's bumper trade numbers Import and export growth accelerated in September. Exports rose over 8 percent, easily beating August's rise of 5.5 percent. And imports grew 18.7 percent in September from a year earlier/ Thanks to a year-long construction boom that shows no signs of flagging China's trade surplus is now over $28 billion, less than the near $40 billion predicted. Foreign trade is expected to grow at a double-digit pace this year. (SOUNDBITE) (English) CIBC, HEAD OF FX STRATEGY, JEREMY STRETCH, SAYING: "The trade numbers, although perhaps slightly lower than perhaps we would have anticipated, are still symptomatic of a strong growth dynamic in the region which will provide a strong growth impetus for the global economy as a whole." That's despite persistent forecasts of an eventual slowdown. And others issues too... (SOUNDBITE) (English) CIBC, HEAD OF FX STRATEGY, JEREMY STRETCH, SAYING: "I think the greatest potential near term risk is the ongoing geopolitical concerns in particular in terms of its neighbour and or support for North Korea. So I think that's one factor which is an irritant at least, or perhaps something worse than that for the Chinese authorities." For now though the upbeat readings will be welcome news for Beijing ahead of a twice-a-decade Communist Party Congress next week, President Xi Jinping is widely expected to tighten his grip on power and set out the government's top priorities for the next five years.