China trade surplus jumps to $32b

China's trade surplus jumped to $31.9 billion (£19.4 billion) in January, easing concerns the world's second-largest economy may be stuck in a slowdown. The figure was up 14 per cent from a year earlier and stronger than forecasts for a $23.7 billion surplus. Imports rose by 10 per cent from a year earlier to $175.27 billion - led by record shipments of crude oil, iron ore and copper. Exports increased by 10.6 per cent from a year earlier, far faster than analysts' forecasts, to $207.13 billion. The positive trade figures also add to expectations China will overtake the US as the world's largest trading nation this year. China is the world's largest exporter, and analysts had been expecting the data to reflect effects of the Lunar New Year holiday, which fell in January this year, according to a news agency.