China trade surplus decreases in September

According to the General Administration of Customs, China's trade balance weakened more than expected in September. Chinese trade surplus slipped to 278.4 billion yuan in September, comparing to 346 billion in August. Meanwhile, economists forecasted a fall to 300 billion yuan. Overall, China's September exports lost 10% from a year earlier, far worse than expected, while imports unexpectedly plunged after accelerating in August, hinting that signs of steadying in the world's second-largest economy may be short-lived. Also, the disappointing trade figures indicating to weaker demand both in China and aboard, and accelerated concerns over the latest depreciation in China's yuan currency, which managed to hit a fresh six-year low against a firming US dollar.Overall, data have highlighted growing imbalances in China's economy, with growth increasingly depended on government spending as private investment falls to record lows. Larger state firms are expanding, while smaller manufacturers, in turn, continue to struggle. Eventually, the economy appears to have stabilized during the first half of the year, growing at an annualized 6.7% pace during the first two quarters.