Chinese data indicates economic recovery

<p>The Chinese economic recovery could be gathering pace.</p>

New data has suggested that the Chinese economy may have turned a corner, with both exports and imports shown to be up in the latest figures.

Exports in October were revealed to be 5.6 per cent up from a year earlier, while imports jumped 7.6 per cent compared to last year.

Overall, the Chinese economy was found to have grown 7.8 per cent in the July-to-September quarter from a year earlier. This was up from the 7.5 per cent expansion that was recorded in the previous three months.

"Combined with the better export data in Korea and Taiwan, China's export numbers suggests some – although not yet decisive – improvement in global demand momentum," said Louis Kuijs, an economist with Royal Bank of Scotland.

Weakening economic data released in the last few months had led to speculation that the Chinese economy could be heading for a slowdown.

The UK recently announced plans to relax trading regulations with China in a bid to build a stronger economic relationship with the expanding Asian nation.

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