Despite Slow Export Growth, China Economic Outlook Upbeat

Premier Li Keqiang said that China's government will take measures to support the industrial sector as the economy faces renewed downward pressures

China's export growth slowed in October but beat forecasts as booming global demand for holiday seasons, an easing power crunch and mitigating supply chain disruptions offset some pressures facing the world's second-largest economy.

Imports, however, missed analysts' expectations, likely pointing to the overall weakness in domestic demand.

Outbound shipments jumped 27.1 per cent in October from a year earlier, slower than September's 28.1 per cent gain.

Analysts polled by Reuters had forecast growth would ease to 24.5 per cent. Zhiwei Zhang, chief economist at Pinpoint Asset Management, said the strong exports would help to mitigate the weakening domestic economy, and offer the government with more room to manoeuvre economic policy.