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China August exports weaken, imports rebound

China August exports weaken, imports rebound

China's August export growth weakened further as global demand slowed and its trade surplus stood at $20 billion, likely adding to pressure on Beijing over currency.
Import growth rebounded in a new sign that China's economic slowdown might be less severe than expected.
Friday's report by China's customs agency said August export growth fell to 34.4 percent over a year earlier, down from July's 38.1 percent. But import growth rebounded to 35.2 percent from the previous month's 22.7 percent.
The politically sensitive trade surplus narrowed from July but was up 28 percent from the same month last year.
That is likely to fuel demands by Washington and other trading partners for Beijing to ease currency controls.


Updated : 2021-03-03 04:53 GMT+08:00