China's General Administration of Customs says foreign trade surged in January, and beat expectations. Total trade stood at 2.18 trillion yuan, or about $51.3 billion, an almost 20 percent rise from one year ago.  Exports shot up 16 percent, while imports spiked 25 percent. China's trade surplus shrank 2.7 percent, to $51 billion.

The customs office said trade with major partners, including the European Union, the US, and Japan, all rose. Business morale also shot up, supporting further trade growth in the year.