China's exports and imports surge past expectations in September

BEIJING — China's exports grew by 36.3% in September from a year ago, their fastest pace since February, according to official data released Wednesday.

Imports climbed by 31%, the fastest increase since June, the data showed, picking up from 28.2% in August.

Both exports and imports exceeded estimates from a Reuters poll, of 25.5% and 24.5%, respectively.

Earlier this year, China's exports and imports each grew at their fastest pace in five years.

A surge in demand for China-made parts for data centers to power artificial intelligence has helped fuel exports, along with stabilization in tensions with the U.S., China's largest trading partner on a single-country basis.

"The resulting trade surplus of $133.5 billion, a record monthly high, underscores the continued strength of China's external sector despite lingering concerns over domestic demand," Hao Zhou, head of research and chief economist at Guotai Junan International Holdings, said in a note.

Global scrutiny on the economic impact of China's surging exports has escalated in recent years, amid sluggish domestic demand. AI-related demand and a coinciding rise in prices of core products have also helped support import growth.

The U.S. and China last month announced plans to roll back tariffs on $30 billion worth of goods from each country, and extend a broader trade truce by two months to January.