BEIJING: China said on Monday its politically sensitive trade surplus fell 53.5 percent to $6.45 billion in January as both exports and imports surged ahead of the country's Lunar New Year holidays.
Exports increased 37.7 percent from a year earlier in January, while imports jumped 51 percent, the General Administration of Customs said.
The agency said in a statement that the rise in both imports and exports came as businesses accelerated shipments in advance of the roughly two-week New Year holiday period, which started at the beginning of February.
The trade surplus figure a sore point in relations with the United States marks the lowest level since early last year and compares with $13.1 billion in December and $22.7 billion in November.
The United States has been pressuring Beijing to allow its yuan currency to strengthen as a way of addressing a chronic trade imbalance in China's favour between the two countries.
China's overall full-year trade surplus in 2010 stood at $183.1 billion compared with $196.1 billion in 2009.
China maintains a tight grip on the yuan despite pledging in June to let the currency trade more freely against the dollar.
Critics say the Chinese unit is massively undervalued and gives the country's exporters an unfair advantage.
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