China's global trade surplus rose to a record monthly high of US$14.5 billion in June, the Commerce Ministry said Monday.

Figures on new loans and money supply, meanwhile, show signs of a slight slowdown, although China's sizzling economic growth has boosted expectations of a further tightening in credit.

The Yangshan deep water port in Hangzhou Bay, southeast of Shanghai. China has posted a record US$14.5 billion trade surplus in June, up 49 percent year-on-year. [AFP]

Exports rose 23 percent from a year earlier to US$81.3 billion while imports climbed 19 percent to US$66.8 billion, the ministry said in a report on its Web site.

The previous record surplus for a single month was US$13 billion in May.

China's trade surplus has been soaring in recent months after hitting a historic high of US$102 billion last year, more than triple the US$32 billion surplus in 2004. The latest report did not include data for individual countries.

June's increase raised the trade surplus for the first half of the year to US$61.5 billion, a 55 percent jump over last year's first-half surplus of US$39.7 billion.

The surge in exports has worried China's economic planners, who say the country needs to rely more on domestic demand than on exports and investment to fuel growth if its industrial boom is to be sustained.

The economy grew at an annual rate of 10.3 percent in the first quarter of the year. First-half figures have yet to be released but media reports, citing authoritative government officials, have said it likely would remain at about 10 percent.

Reports on other economic data released Monday suggest that regulators may be making some headway in efforts to tighten credit and curb surging spending on factories and construction.

Chinese economic planners have expressed alarm at the surge in lending, saying it could lead to financial problems if investments in redundant factories and showcase real estate projects end up being unprofitable.

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