China's exports surge, trade surplus widens
November 10, 2012 -- Updated 0808 GMT (1608 HKT)
Containers been loaded on to a ship at the Qingdao port, in northeastern China's Shandong province on March 9, 2012.
- China's exports swell by 11.6% in October
- Foreign trade expands 6.4% in first 10 months of this year
- Commerce minister says 10% trade growth unlikely for 2012
- Growth hit by European slowdown, higher operating costs
Hong Kong (CNN) -- China's trade surplus widened further in October to $32 billion as exports swelled 11.6%, the strongest rise since May, state-run news agency Xinhua reported Saturday.
During the same period, imports rose 2.4% year-on-year, the same rate of growth recorded in September.
In the first ten months of 2012, the country's total foreign trade expanded 6.3% to $3.16 trillion compared to the same period last year.
China had set a target of target of 10% growth in foreign trade this year, however the country's commerce minister has said that will be difficult to achieve.
Can China's new leader maintain growth?
"Even though our year-on-year export growth rate rebounded slightly to 9.9% in September and 11% in October, it remains very difficult for us to achieve the 10% foreign trade growth target for the whole year," Chen said on the sidelines of the Communist Party's 18th National Congress in Beijing, according to Xinhua.
Challenges for China's new leaders
Read more: Hu warns of corruption threat
China's Middle East trading ties
Chen said that China could instead expect to maintain its share of global trade.
Last year, China's trade surged 22.5 percent, however this year weak global demand, higher operating costs and growing trade protectionism were putting pressure on exports, Xinhua reported.
In the first ten months of this year, trade with China's largest trading partner, the European Union fell 3% amid a severe economic downturn and a series of severe austerity measures. A territorial dispute between China and Japan has also taken a toll on their economic relations, pushing trade between the two down by 2.1%.
Read more: Will the music stop for China's economy?
The falls were offset by China's growing trade relations with the United States, ASEAN countries, Russia and Brazil. This year, China's trade with the U.S., its second largest trading partner, increased by 9.1% to $396 billion.
The positive figures come as thousands of delegates meet in Beijing for a once-in-a-decade leadership change. Next week, Xi Jinping is expected to be named the country's new president, replacing current President Hu Jintao.
Part of complete coverage on
August 19, 2014 -- Updated 0513 GMT (1313 HKT)
Chinese are turning to overseas personal shoppers to get their hands on luxury goods at lower prices.
August 15, 2014 -- Updated 0908 GMT (1708 HKT)
Experts say rapidly rising numbers of Christians are making it harder for authorities to control the religion's spread.
August 11, 2014 -- Updated 0452 GMT (1252 HKT)
"I'm proud of their moral standing," says Harvey Humphrey. His parents are accused of corporate crimes in China.
August 6, 2014 -- Updated 1942 GMT (0342 HKT)
A TV confession detailing a life of illegal gambling and paid-for sex has capped the dramatic fall of one of China's most high-profile social media celebrities.
July 31, 2014 -- Updated 0410 GMT (1210 HKT)
President Xi Jinping's campaign to punish corrupt Chinese officials has snared its biggest target -- where can the campaign go from here?
July 30, 2014 -- Updated 0712 GMT (1512 HKT)
All you need to know about the tainted meat produce that affects fast food restaurants across China, Hong Kong, and Japan.
July 18, 2014 -- Updated 0230 GMT (1030 HKT)
Some savvy individuals in China are claiming naming rights to valuable foreign brands. Here's how companies can combat them.
July 16, 2014 -- Updated 0911 GMT (1711 HKT)
Is the Chinese president a true reformist or merely a "dictator" in disguise? CNN's Beijing bureau chief Jaime FlorCruz dissects the leader's policies
July 8, 2014 -- Updated 0344 GMT (1144 HKT)
With a population of 1.3 billion, you'd think that there would be 11 people in China who are good enough to put up a fight on the football pitch.
July 4, 2014 -- Updated 0631 GMT (1431 HKT)
26-year-old Ji Cheng is the first rider from China to compete for competitive cycling's highest honor.
July 7, 2014 -- Updated 1124 GMT (1924 HKT)
China's richest man, Wang Jianlin, may not yet be a household name outside of China, but that could be about to change.
July 3, 2014 -- Updated 2357 GMT (0757 HKT)
When President Xi Jinping arrives in Seoul this week, the Chinese leader will have passed over North Korea in favor of its arch rival.
July 1, 2014 -- Updated 0656 GMT (1456 HKT)
The push for democratic reform in Hong Kong is testing China's "one country, two systems" model.
June 30, 2014 -- Updated 1156 GMT (1956 HKT)
Along a winding Chinese mountain road dotted with inns and restaurants is Jinan Orphanage, a place of refuge and site for troubled parents to dump unwanted children.
June 26, 2014 -- Updated 0836 GMT (1636 HKT)
CNN's Kristie Lu Stout invites Isaac Mao, Han Dongfang, and James Miles to discuss the rise of civil society in China and social media's crucial role.
June 26, 2014 -- Updated 0334 GMT (1134 HKT)
Chen Guangbiao wants rich people to give more to charity and he'll do anything to get their attention, including buying lunch for poor New Yorkers.
June 26, 2014 -- Updated 1144 GMT (1944 HKT)
Architects are planning to build the future world's tallest towers in China. They're going to come in pretty colors.
Today's five most popular stories