China\\\'s economy on track as June trade surplus jumps

China’s monthly trade surplus jumped 16.4 per cent in June to $ 31.6 billion, official data showed on Thursday, as exports and imports both rose in the latest sign of recovering strength in the world’s 2nd-largest economy. Exports increased 7.2 per cent to $186.8 billion year-on-year, the General Administration of Customs announced, while imports gained 5.5 percent to $155.2 billion. China is the world’s biggest trading nation in goods. Gross domestic product (GDP) grew 7.4 per cent in the first three months of 2014, weaker than the 7.7 per cent in October-December last year and the worst since a similar 7.4 per cent expansion in the 3rd quarter of 2012. Customs spokesman Zheng Yuesheng attributed the trade improvement in the 2nd quarter to factors including supportive government policies and a wider global economic recovery. China has since April introduced steps to boost growth, including tax breaks for small enterprises, targeted infrastructure outlays and incentives to encourage lending in rural areas and to small companies, measures dubbed ‘mini-stimulus’ by economists. China announces 2nd-quarter GDP results on July 16, according to AFP.