China Trade Surplus Grows to $27 Billion

China posted its second-largest trade surprlus of the year in October, giving further ammunition to critics who say that the country's currency should be stronger.

The country's October exports were worth $27.15 billion more than its imports for the month, the largest figure for any month this year except July, MarketWatch reported.

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Critics charge that China keeps the value of its yuan currency unfairly low, making its exports more competitive with the goods of other countries.

Leaders from the G20 countries are due to meet in South Korea this week, where they will discuss issues including currency values.

"This large trade surplus will likely add to global pressure for China to allow more currency appreciation," wrote RBC analyst Brian Jackson in a research note.

In October, Chinese exports were up 22.9% from a year earlier. Imports rose 25.3% year-on-year.
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