China’s exports rise beating forecasts

China's exports beat forecast last month with a broad measure of credit surging 28 per cent, helping the nation's new leaders sustain an uptick in economic growth after a seven-quarter slowdown.

Overseas shipments surged 14.1 per cent from a year earlier, the most since May, according to customs administration data. Aggregate financing of 1.63 trillion yuan ($262 billion), which included bank and non-bank lending, rose from 1.27 trillion yuan a year earlier, the central bank said.

Asian stocks extended gains and commodities were up with the Australian dollar gaining strength after the reports spurred confidence that the recovery in the world's second-largest economy was back on track and global demand was stabilising.

A subdued US recovery and European austerity measures might dampen China's trade this year, even as growth in non-bank financing threatened to increase debt risks, according to analysts.

December imports were up 6 per cent after remaining unchanged in the previous month. The trade surplus was up at $31.6 billion almost doubling from a year.

The Australian dollar was up 0.3 per cent in Sydney, and MSCI Asia Pacific index of stocks gained 0.7 per cent, while the Shanghai Composite Index, China's benchmark stock gauge, advanced 0.2 per cent in the afternoon.