China Exports in October Fall 13.8%

BEIJING -- China says exports fell 13.8% in October from the same month last year as a slump in the country's export sector eased further.

It was the smallest decrease in 10 months. Figures released Wednesday by China's government also show imports fell by 6.4%, a slightly faster pace than in September.

Meanwhile, China's industrial output and retail sales both jumped in October from the same month a year earlier, suggesting China is on track to meet its goal of 8% economic growth for the year.

The key inflation rate, the consumer price index, was down 0.5% in October from the same month last year, according to the National Bureau of Statistics.

Bureau spokesman Sheng Laiyun said retail sales were up a robust 16.2% in October from the same month last year, while industrial output rose 16.1% over the same period.

"The October data show that we have more reasons to believe the economy will achieve the goal of 8% growth," Sheng told a news conference. He added there were no inflation worries at the moment.

Fixed asset investment for the first 10 months of the year surged 33.1% compared with the year-earlier period, Sheng said.

China has rebounded faster and stronger than other major economies from the world economic crisis, with flowing government spending and bank lending pushing up economic expansion by 8.9% in the third quarter.