China November exports growth at eight-month high, imports up on commodities demand

China's exports and imports unexpectedly accelerated last month after slowing in October, an encouraging sign for the world's second-biggest economy which has started to slow in the face of a government crackdown on debt risks and factory pollution.November exports jumped 12.3 percent from a year earlier, beating analysts' forecast of a 5.0 percent increase, and compared to 6.9 percent growth in October, the General Administration of Customs said on Friday.

The rebound boosted export growth to the fastest pace since March.

Imports grew 17.7 percent year-on-year in November, also well above expectations of 11.3 percent growth and rising at the fastest pace since September.

The numbers may help to ease concerns of slowing momentum in Asia's economic powerhouse, which had surprised markets with robust growth of nearly 6.9 percent in the nine months of this year, thanks to a government-led infrastructure spending spree and unexpected strength in exports.

Tighter rules to rein in risks from a rapid build-up in debt and cut pollution have weighed on overall activity since the third quarter.

Some of China's northern provinces have ordered factories to throttle back or halt output to reduce notoriously thick winter smog, which will likely discourage demand for raw materials shipments such as iron ore.While the war on pollution had been expected to reduce raw materials imports, Friday's trade numbers showed commodity imports rebounded last month.

China's iron ore imports rose in November, though steel mills are cutting output as part of a government drive against pollution.Steel exports rose from the previous month to 5.35 million tonnes in November, data showed.

Besides ramped-up efforts to reduce winter pollution, authorities unveiled fresh regulatory measures last month for the financial sector, clamping down on high-risk lending and halting some dubious infrastructure projects that would swell local governments' debt.

The rebound in imports come as China's yuan has fallen 2.8 percent against the dollar since hitting its 2017 peak on Sept. 8.

The latest data showed the country posted a trade surplus of $40.21 billion for the month versus expectations for $35 billion in November after October's $38.185 billion.

Here's one thing that China says it cannot export

NEW DELHI: China's economic rise has for decades been driven by an export-based economic model. The Asian giant is now the world's factory and exports just about anything that can be made in a factory. But there is one thing that even China cannot export - its political and development model.

"Although the Chinese model is truly effective, China does not have the power to promote its political system or the political tools to do so," read an editorial in Global Times. The newspaper is run by the Chinese government and is considered a mouthpiece for the thought processes of the Communist Party.

The admission comes even as China hardsells the One Belt One Road (OBOR) initiative, which is an attempt to create a global market for its oversaturated construction sector while at the same time boosting its credit markets.

The OBOR project compounds a perception battle that China is already on the wrong side of. Countries across the world, especially China's neighbours, have stood witness to rising sabre-rattling and aggression. "Every country is free to decide whether to learn from China's experience, and China supports diversity in global political systems... Noninterference is the cornerstone of China's diplomatic policy," Global Times claimed.

This claim however flies in the face of increasing discontent and suspicion of Chinese business and investment practices activity, especially in Africa.

Global Times's effort to spin China alleged unwillingness to impose itself on other countries comes at a time when Xi Jinping has been confirmed his country's President for a second term and his pet OBOR initiative has been inserted into the country's constitution. The piece also took a reactionary tone to a buzz in Western media outlets that Beijing is promoting its political model to other countries. "In the past decades, the West has been enthusiastically promoting its so-called democratic system, not only through education and ideological brainwashing but also through "color revolutions" in emerging countries and, in extreme cases, by starting wars to "transform" Mideast countries. They think that since they have been "exporting models," China would do the same when it is powerful enough," the Global Times editorial said.