Reported 6 months ago
China's exports in May grew by 7.6%, exceeding expectations and marking the fastest pace in over a year, while imports fell short of estimates based on customs data released. The growth is attributed to a lower base from a year before and a boosted demand for steel, automobiles, home appliances, and ships. Despite escalating trade tensions with the U.S. and Europe, China's trade surplus widened, with exports to the ASEAN nations leading the growth. The strong performance in exports is expected to continue, supported by a weaker exchange rate and government spending boosting the import-intensive construction sector.
Source: YAHOO