Updated on
Summary
Chinas trade surplus rose in November raising fresh fears about renewed criticism from the US and Europe over Beijings currency policy. Export from China rose 34.9 percent to $153.3 billion in November year-on-year and imports increased 38 percent to $130.4 billion, leaving a trade balance of $22.9 billion in November, the Chinese customs bureau said on Friday. November trade surplus was 15 percent higher compared with the same month a year earlier but below the $27.1 billion in October 2010. With the US and Europe being the biggest trading partners the trade surplus with the countries in November stood at $16.8 billion and $13.6 billion respectively. The new trade surplus is likely to add to the criticism of Chinas exchange rate policy. The US and Europe say that Beijing is keeping the yuan undervalued to boost exports. But China's yuan remained unchanged rising from 6.69 to 6.67 against the dollar during November.
