China imports jump 55.9%11-01-2010 12:10

Stocks rose around the globe as strong December trade figures from China showed how the east Asian economic power house is helping the global economy recover from the downturn.

December imports jumped by 55.9% from the same month the previous year, while exports were 17.7% higher.

Continued demand for commodities was behind much of the rise, with crude oil imports climbing 25% and copper imports up by more than a quarter.

The strong export figures mean that China is on tract to supplant Germany as the world's biggest exporter. China export a total of about 746bn-worth of goods over 2009, compared with 660bn in the first 11 months of 2009.

China has also overtaken the US as the world's biggest automotive market after 2009 vehicle sales jumped by 46%.