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China Customs data shows May exports up 7pc as imports slip 1.6pc
CHINA's exports posted a seven per cent year-on-year increase in May, according to China Customs, reporting a gain that surpassed analysts' median estimate of 6.7 per cent in a Bloomberg News survey.
This cushioned a slowdown in China's economy as imports fell 1.6 per cent - a fall that was not forecast by economists in the survey. None of 42 economists had forecast a decline in imports. Their median estimate was a six per cent gain.
Stronger exports may bolster Chinese leaders' confidence that a recovery in demand from the US and Europe will support economic growth and reduce the need for more stimulus, said Bloomberg.
The government has announced targeted policies, including measures to help exporters, tax cuts, accelerated investment in public housing and infrastructure.