China's exports grow faster

China's exports outperformed market expectations in November due to improved data in the US and the European Union.

According to the General Administration of Customs Sunday, exports went up 12.7 percent year-on-year in November and imports gained 5.3 percent year-on-year, reports Xinhua.

November's export growth is above the market expectation of 7.0 percent, indicating improved data in the US and the European Union, said Liu Ligang, chief Greater China economist at ANZ Banking Group.

This is the second month of year-on-year rises in exports, reversing the decline in October, up 5.6 percent from a year earlier to $185.4 billion.

Foreign trade stood at $370.6 billion in November, including $202.2 billion of exports and $168.4 billion of imports.

Trade surplus hit $33.8 billion in November, the second month for China to report more than $30 billion of trade surplus, Liu said.

Taking eleven months in total, foreign trade gained 7.7 percent year-on-year to $3.8 trillion.

China targeted foreign trade growth of 8 percent year-on-year in 2013. The target is higher than last year's real growth, but below the 10 percent target set for the last year.