China's retail sales rose 13.4% compared to August 2012, beating analysts' forecasts, and industrial production jumped 10.4% over the same month last year, after booking a 9.7% increase in July, according to the National Bureau of Statistics. "The recent improvement is largely because of better exports amidst improving global demand, but continued solid domestic demand growth provided an important cushion during the slowdown and remains key now," said RBS chief China economist Louis Kuijs.

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