Chinese export and import growth both slowed in June, showing that the world’s second-largest economy faces strong headwinds, writes Simon Rabinovitch in Beijing.
Exports rose 11.3 per cent from a year earlier, down from May’s 15.3 per cent pace. Imports increased 6.3 per cent from a year earlier, half of May’s 12.7 per cent and well below expectations.
With imports so weak, China was able to pull in a trade surplus of $31.7bn, nearly double May’s total and the country’s biggest in more than three years. The trade numbers followed inflation data that underscored the downturn in the Chinese economy.
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