China posts another record trade surplus in October

China said today its trade surplus hit a monthly all-time high of $35.2 bn in October, on the back of surging exports.     

The trade surplus, a source of lingering friction with the United States and Europe, was up steeply from September's $ 29.3 bn.     

The trade surplus for the first 10 months of the year was $216 bn, Customs authorities website said.     
This marked a slight increase from $212.4 bn in the same period last year, according to previously released Customs figures.     

Exports in October rose 19.2% from a year ago to $128.3 bn, the figures said.     

Imports last month increased by a narrower margin, rising 15.6% from a year earlier to $93.1 bn, according to customs.     

The widening trade surplus could put pressure on China to raise the value of its currency, which has stayed at roughly the same level against the dollar since spring.     

US president-elect Barack Obama said during his campaign that China's huge trade surplus with the United States was related to its manipulation of its currency.