China's November trade crushed expectations

China reported its latest batch of trade data on Friday.

Chinese dollar-denominated exports rose 12.3 percent year-over-year for the month of November, easily topping the 5 percent expected by a Reuters poll.

Similarly, November's dollar-denominated imports rose 17.7 percent against the year-ago period, compared to an 11.3 percent gain expected by a Reuters poll.

Overall, China's November trade surplus was $40.21 billion — above an expected surplus of $35 billion, Reuters said.

The country's exports denominated in yuan, meanwhile, rose 10.3 percent in November from a year earlier, the General Administration of Customs said.

Yuan-denominated imports rose 15.6 percent year-on-year in November, which produced a trade surplus of 263.6 billion yuan.

This is a breaking news story. Check back for updates.

—CNBC contributed to this report.