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Imports tumble as exports' fall slows to drive up China's trade surplus
CHINA's imports fell 14.3 per cent year on year in August, sharpening from an 8.6 per cent fall in July, reports London's Financial Times.
Meanwhile August exports dropped 6.1 per cent after an 8.9 per cent fall the month before.
The above amount were in yuan terms; in dollar terms, exports fell 5.5 per cent while imports were down 13.8 per cent.
Slowing imports helped boost the country's trade surplus by almost 40 per cent from July to CNY638 billion, nearly even with the CNY370 billion record set in February.
"The slowing domestic economy has cut imports," Moody's Analytics wrote before the data was released, "although there are tentative signs of improvement in volumes of commodity imports, indicating that monetary easing is starting to help real investment."
Meanwhile August exports dropped 6.1 per cent after an 8.9 per cent fall the month before.
The above amount were in yuan terms; in dollar terms, exports fell 5.5 per cent while imports were down 13.8 per cent.
Slowing imports helped boost the country's trade surplus by almost 40 per cent from July to CNY638 billion, nearly even with the CNY370 billion record set in February.
"The slowing domestic economy has cut imports," Moody's Analytics wrote before the data was released, "although there are tentative signs of improvement in volumes of commodity imports, indicating that monetary easing is starting to help real investment."
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