China's economy grows 4.5% as exports surge, putting Beijing on course for a record $1.2tn trade surplus

Exports jumped 36% last month, and Beijing has already banked a $938bn surplus between January and September. Growth beat the 4.4% forecast and rebounded from 4.3% in April to June, the slowest in more than three years. Yet property investment fell more than 20% in the first nine months. Trade partners fear cheap Chinese imports are a growing threat to their own industries.

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