Here's why China's October data are proof of bottoming out

Exports impressively surged 11.6%.

According to OCBC, China announced its new leadership with no major surprises with Xi Jinping and Li Keqiang replacing the outgoing Hu Jintao and Wen Jiabao as the next President and Premier.

Here's more from OCBC:

October data releases provided further evidence of a bottoming out in Q3 – exports +11.6% yoy on the back of stronger demand from ASEAN, imports +2.4% yoy industrial production +9.6% yoy, retail sales +14.5% yoy, fixed investment +20.5% and property prices rebounding modestly. At the same time, trade surplus widened to US$31.99bn from US$27.67bn in Sep.

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