China posts record trade surplus

China posts record trade surplus

Published: October 13 2008 11:44 | Last updated: October 13 2008 17:31

China’s trade surplus hit a record $29.3bn in September as exporters defied forecasts of falling international demand – for the moment, at least.

However, analysts warned that Chinese exports, which rose 21.5 per cent year-on-year last month compared with 21.1 per cent in August, would eventually begin to succumb to the effects of the widening global financial crisis as it suppresses economic growth in vital markets such as the European Union and US.

“We expect exports growth to trend further down from here, potentially sharply in the coming quarters,” Goldman Sachs economists said in a research note.

The expanding trade surplus – up from the previous record of $28.7bn (