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China’s Exports Exceed Imports amid Weak Economy

in International Business

China’s Exports Exceed Imports amid Weak Economy

China’s trade surplus grew to USD 31.73bn, rising by 11.3%.

The figure is still down from 15.3% in May, yet there is some good news for China’s economy that is currently fighting the weak domestic economy.

Previously, Chinese Premier Wen Jiabao had said China faces “relatively large” downward pressure.

“Authorities would intensify their response to any economic slowdown,” said Mr. Jiabao.

Last week in a surprise move, the government cut borrowing costs for the second time in a month, raising concerns China may have posted weaker growth than expected in the second quarter.

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