The world's second largest economy China presented a surprisingly optimistic trade data for the month of March, putting market concerns to a rest. The country showed  an11.5 percent increase in its export, while its imports were down by 7.6 percent on dollar basis. The results were even better in CNY terms, where exports showed 18.7 percent increase and imports went down by 1.7 percent.

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The International Monetary Fund (IMF) recently stated that it expects China to perform better than other economies. China also presented moderate producer price deflation numbers. The IMF now expects China's economy to grow at the rate of 6.5 percent this year, up from its previous estimate of 6.3 percent. Chinese Premier Li Keqiang, on the other hand, expects the growth to be between 6.5 to 7 percent for year 2016.

China also registered a 30 percent increase in its steel exports in the month of March. In 2015, the country exported 112 million tonnes of steel. With 27.83 million tonnes of export in March, China is on its way to post an equally impressive performance this year as well.

The country's foreign reserve also rose by $10.3 billion in the month of March. The reserve currently stands at $3.2 trillion.

Despite these optimistic figures, some concerns still remain. The International Monetary Fund has stated that China's recovery may largely be due to short term stimulus measures and such measures may further increase its debt.

Trading reacted positively to the news as trading markets the globe rose. The US dollar posted an increase against the Euro. China is currently trying to revamp its economy, shifting the focus from a manufacturing-oriented, export-based one to domestic consumption-oriented economy.

Tagschina, Export Data, Economy, IMF, euro, dollar