Shanghai benchmark climbs as China export growth slows

<p>The Shanghai SSE Composite closed higher as China records slow export growth in November.</p>

The major Shanghai SSE Composite index closed higher this morning (December 10th) after official data revealed the world's second-largest economy witnessed slower-than-anticipated growth last month.

Exports grew by 2.9 per cent while imports were flat compared to October, after analysts projected that November's export trade would soar by nine per cent.

This lack of growth is due to subdued global demand for Chinese products.

But despite quiet trade, analysts claim the recovery is still on track and that the recent period of stagnation may be over.

China's economic growth – which is considered a key driver in the global recovery – was sluggish in the third quarter, sliding to a three-year nadir of 7.4 per cent, with weak export growth and little improvement in the domestic market contributing the most to this inertia.

At the end of the day's trading in Shanghai this morning, the SSE Composite rose by more than one per cent to an index value of 2083.7 points.

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