China August trade surplus widens to $28.6bn

China's trade surplus widened to $28.6 billion in August from $17.8 billion in July, customs figures showed Sunday, in another positive sign for the world's second largest economy. The trade surplus came in larger than analysts expected, rising 8.3 percent year-on-year, customs said in a statement on its website. Analysts had forecast a trade surplus of $20.4 billion, according to a survey of 11 economists by Dow Jones Newswires. Exports, a key driver of the Chinese economy, also grew more than expected, jumping 7.2 percent year-on-year to $190.7 billion last month. Economists had forecast a 6.0 percent annual rise in exports for August, Dow Jones Newswires said. But imports rose a weaker-than-expected 7.0 percent to $162.1 billion, less than the 11.7 percent rise forecast by analysts. The market is watching for signs of recovery in China's economy which struggled early this year. The economy expanded 7.7 percent last year, the slowest growth since 1999. In the final quarter of last year, growth accelerated to 7.9 percent, but has slowed in successive quarters to 7.7 percent in the first quarter and 7.5 percent in the second quarter.