Export growth picks up in September

China's exports in September increased by 9.9 percent than the same period last year, hitting a monthly record high of $186.35 billion, according to customs figures over the weekend, showing a recovery in overseas markets and a slight growth of domestic demand.

The 9.9 percent data is the highest growth rate since June, and almost twice the market expectation of 5 percent.

The trade surplus in September expanded to $27.6 billion, higher than $26.7 billion in August, according to the General Administration of Customs, and the data is also higher than the expectation of $22.4 billion polled by Dow Jones.

Market watchers attributed the export rebound to the seasonal factor and the measures adopted by the State Council to stabilize trade growth.

Europe and the US have entered into a buying peak season prior to Christmas, which triggered the seasonal rebound of exports, Chen Hufei, a researcher from Bank of Communications told the Xinhua News Agency over the weekend, noting that the easing monetary policies introduced by developed economies including the US and the EU is good news to exports of emerging markets.

Xinhua reported over the weekend that Yiwu climate index in September rebounded above 1,000, a second high this year.

A reading above 1,000 indicates expansion. Yiwu is the largest Christmas gift production base in China.

In September this year, the purchasing manager's index or PMI hit 49.8 percent, an increase after four consecutive drops, according to the National Bureau of Statistics. A reading above 50 shows expansion.

Meanwhile, Chen noted that the State Council's policies to stabilize external demand helped boost enterprises' confidence.

In September, the State Council introduced a basket of measures to stabilize trade growth, including cutting administrative costs for companies, lowering financing costs for small and micro-sized firms, and speeding up tax rebates.