China's trade growth slows

China's import and export growth slowed in September, apparently affected by credit worries in Europe, the country's largest trading partner.

China's General Administration of Customs announced trade statistics on Thursday.

It said exports in September stood at about 169.7 billion dollars, up 17.1 percent from a year earlier, but that the growth rate of was down 7 points from August.

Imports stood at about 155.2 billion dollars, for a year-on-year increase of 20.9 percent, down from 30.2 percent in August.

As a result, the country's trade surplus was about 14.5 billion dollars, for a second straight month of decline.

Lu Peijun, vice minister of the General Administration of Customs, said China's trade conditions are deteriorating due to worldwide falls in demand and rising domestic costs.

An NHK correspondent says the United States may increasingly criticize China for undervaluing its currency to promote exports, as the country's trade surplus maintained a high level of over 10-billion dollars.

Thursday, October 13, 2011 16:48 +0900 (JST)