Overseas shipments grew 45.7 percent on-year
last month to 94.5 billion dollars, the customs bureau said, cementing a
turnaround that began in December when a year-long decline ended.
China's
export data is being closely watched for clues to the state of the
world's third-largest economy and for signs of recovery in crisis-hit
markets such as the United States and Europe.
Analysts said the
latest figures reflected improving demand for Chinese-made products,
even though they compare with February 2009 when shipments plunged 25.7
percent due to the global crisis.
"It's obviously impacted by the
low base effect but there were five fewer (business) days in February
this year than last year which makes this number pretty impressive,"
Royal Bank of Canada senior strategist Brian Jackson told AFP.
China's
Lunar New Year, the nation's most important holiday, came in February
this year. In 2009, it came in late January.
Analysts said the
strong exports data could make Beijing more comfortable with letting the
yuan appreciate.
The value of the yuan -- effectively pegged to
the US dollar since mid-2008 -- has been a source of friction with
China's Western trading partners, who say Beijing is keeping it
artificially low to boost exports.
Central bank governor Zhou
Xiaochuan said last weekend that the policy of keeping the yuan stable
against the US dollar was temporary and would be removed "sooner or
later" once the global recovery was on a firmer footing.
"The
recovery seems to have gained legs and this will give China's government
more confidence to start revaluing the yuan," said Ren Xianfang, an
economist at IHS Global Insight in Beijing.
China's trade surplus
reached 7.61 billion dollars in February, the new figures showed, up
57.2 percent year-on-year.
Imports rose 44.7 percent year-on-year
in February to 86.9 billion dollars.
China has tried to play down
expectations for a strong pick-up in exports this year, with commerce
minister Chen Deming saying at the weekend it could take up to three
years to return to pre-financial crisis levels.
But Deutsche Bank
economist Ma Jun said February's "very strong" data suggested Chen was
"too pessimistic".
"We forecast this year's exports will sharply
exceed expectations," Ma told AFP.
The data marked a continuation
of a turnaround in December, when exports grew 17.7 percent, snapping a
string of 13 straight declines. That was followed by a 21 percent
year-on-year increase in January.
In February China became the
world's leading exporter when Germany, which had claimed the spot since
2003, saw trade suffer its sharpest slump since 1950.