China’s Trade Surplus Surges; Reserve Ratio Climbs

China posted a larger-than-forecast $27.1 billion October trade surplus, a day before Group of 20 leaders including Presidents Barack Obama and Hu Jintao meet in Seoul to tackle global imbalances in spending and capital flows.

Exports gained 22.9 percent from a year earlier and imports rose 25.3 percent, the customs bureau said. With the surplus pumping cash into the fastest-growing major economy, the central bank announced a 0.5 percentage point increase in lenders’ reserve requirements.