Chinese markets and country-specific exchange traded funds gained momentum Wednesday after Beijing revealed a surge in exports, renewing confidence in the global economy.

On Wednesday, the iShares China Large-Cap ETF (NYSEArca: FXI), the largest China-related ETF that tracks Chinese companies listed on the Hong Kong stock exchange, rose 3.5% while the SPDR S&P China ETF (NYSEArca: GXC) gained 2.7% and broke above the resistance at its 200-day simple moving average. While both funds have increased over 7% in the past three months, FXI is still down 4.6% and GXC is 4.4% lower year-to-date.

Meanwhile, China A-shares ETFs that track mainland Chinese stocks traded in Shanghai and Shenzhen also rallied Wednesday, with the Deutsche X-trackers Harvest CSI 300 China A-Shares ETF (NYSEArca: ASHR) up 1.8%. ASHR has declined 11.6% year-to-date.

Chinese equities were strengthening after Beijing revealed exports in yuan terms jumped 18.7%, or 11.5% in U.S. dollar terms, in March year-over-year, BBC reports. Imports, on the other hand, dipped 1.7%, leaving China with a trade surplus of 194.6 billion yuan, or $30 billion.

The unexpectedly strong export data suggests that the world’s second largest economy may not have done as poorly as previously thought during the global slowdown.

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