China's trade surplus increased to the highest level in nearly five years in November, rising to $33.8B from $31.1B in October and easily topping consensus of $21.7B.
Exports climbed 12.7% on year vs +5.6% in October and exceeding forecasts of +7.1%.
Imports grew 5.3% vs +7.6% and +7.2%.
Exports to Europe +18.4% and to the U.S. +17.7%.
"There are signs that the global activity and trade cycle is gaining momentum, driven by the recovery in high income countries, and China's exporters are benefiting from that," says RBS economist Louis Kuijs.
The data is the first in a number of reports due out this week, including inflation, industrial production and retail sales. (PR - use Google to translate)