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Chinese exports, imports beat expectations in June

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Growth in Chinese exports and imports outstripped expectations in June, data showed on Thursday, fuelling hopes of stability in the world's second-largest economy.

[BEIJING] Growth in Chinese exports and imports outstripped expectations in June, data showed on Thursday, fuelling hopes of stability in the world's second-largest economy.

Exports rose 11.3 per cent from a year ago to US$196.59 billion, the customs administration said, topping a Bloomberg News forecast of 8.9 per cent.

Imports were up 17.2 per cent year-on-year - compared with an expected increase of 14.5 per cent - to US$153.83 billion, lifting the trade surplus to US$42.76 billion.

The latest data could soothe concerns that the Chinese economy is losing momentum as Beijing clamps down on free-wheeling credit and property purchases that have been key drivers of growth for years.

It also comes ahead of US-China talks in Washington next week where they are expected to assess the results of a 100-day action plan aimed at improving trade ties between the economic rivals.

AFP

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