China reported a strong rise in exports in May but imports were weak raising concerns over domestic demand, suggesting that the economy remains sluggish.
Exports rose 7% year over year in May, according to official data released on
Sunday and compared with an 0.9% advance in April and the 2.3% fall in the
Bai Ming, a senior researcher with the Chinese Ministry of Commerce, said the
trade data in May is more reliable than that in the Jan-April period when their
comparison base was inflated by a rash of fake invoicing of exports to evade
Thanks to the pick-up in exports, China's trade with major partners continued to rise. From January to May, its trade with the European Union, the United States, the ASEAN and Japan rose by 11.7%, 5.1%, 3.6% and 3.4%, respectively.
Despite the brighter picture, Xinhua the sate news agency reported that analysts believe that "the external environment for China's foreign trade is still complicated."
© Copyright 2011 by Finfacts.com