China’s trade surplus jumps

China’s trade surplus swelled 63% in April from a year earlier to $16.9 billion, topping economists’ forecasts and adding to tensions with the U.S. as the countries’ policymakers prepare for a summit this month.

The Asian nation’s exports jumped 26.8% and imports climbed 21.3%, China’s General Administration of Customs said. Its trade surplus for the first four months was $63.3 billion, 88% higher than a year earlier.

The gap gives more ammunition to U.S. lawmakers who say China benefits from an undervalued currency, two weeks before Treasury Secretary Henry M. Paulson Jr. and Vice Premier Wu Yi are scheduled to meet for trade talks in Washington.

China this week agreed to buy $4 billion of U.S. technology products and allowed the yuan to have the biggest gain since the end of a dollar link.

China’s trade surplus in April widened from $6.9 billion in the previous month and $10.4 billion a year earlier. The nation’s exports grew 6.9% in March and 23.7% in April 2006.

Congress is “losing patience” over China’s currency policy, Rep. John D. Dingell (D-Mich.) said at a hearing in Washington this week. Dingell is chairman of the House Energy and Commerce Committee.

China’s economy, the world’s fourth-largest, grew 11.1% in the first quarter from a year earlier. Its foreign currency reserves are now a record $1.2 trillion.