China's November Trade Surplus Rises to $26 Billion


China's trade surplus rose 14.7 percent in November to the third highest on record, adding fuel to U.S. Treasury Secretary Henry Paulson's demands for faster yuan appreciation.

The gap climbed from a year earlier to $26.28 billion, the Chinese customs bureau said today on its Web site.

Paulson, who's in Beijing for talks until Dec. 13, says the yuan needs to appreciate more quickly to reduce global trade imbalances and defuse protectionism. China has cut export rebates and increased imports to curb the swelling trade surplus, while fending off calls for stronger currency.

Chinese exports rose 22.8 percent in November from a year earlier to $117.62 billion, the customs bureau said. Imports climbed 25.3 percent to $91.34 billion. For the first 11 months, exports rose 26.1 percent to $1.1 trillion, larger than the economies of Brazil, Russia, India, South Korea or Mexico, according to Bloomberg data.

China's imports climbed 20.5 percent to $865.5 billion in the first 11 months, the customs bureau said. Trade surplus for the period jumped 52.2 percent to $238.1 billion.


Bloomberg
12/11/2007 1:36:01 PM