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China trade slumps imports down 12.5pc exports slide 4.4pc in July

CHINA posted worse-than-expected exports and imports figures for July, with imports falling 12.5 per cent to $132.4 billion and exports were off 4.4 per cent to US $184.7 billion year on year.

China trade slumps imports down 12.5pc exports slide 4.4pc in July
16 August 2016 - 20:49

China trade slumps imports down 12.5pc exports slide 4.4pc in July
CHINA posted worse-than-expected exports and imports figures for July, with imports falling 12.5 per cent to $132.4 billion and exports were off 4.4 per cent to US $184.7 billion year on year.
China's customs authorities reported that goods bought from partners abroad totalled US$132.4 billion as weaker global commodity prices and slumping domestic demand weighed on purchases.
"Signs of stronger manufacturing activity among many of China's key trading partners have so far failed to lift export growth," said Capital Economics analyst Julian Evans-Pritchard. 
In the first seven months of the year, China's total trade volume with the European Union rose by 1.8 per cent, but it fell 4.8 per cent with the US, reports Germany's Deutsche Welle citing Reuters and Agence France-Presse.
Chinese officials have denied the government in Beijing is deliberately allowing the yuan to slide so as to boost exports, arguing that economic fundamentals are responsible for the current situation.

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