China's exports post first increase in six months
China's exports rose in March for the first time in six months, customs data showed on Thursday, as the world's second-largest economy continued its recovery. Total exports soared 14.8 percent year on year, according to the General Administration of Customs. "The positive surprise may be partly due to a low base effect – the Covid outbreaks in March last year forced many factories to shut down," said Zhiwei Zhang, of Pinpoint Asset Management. The strong growth may also be a result of "inventory and order cycles for exporters", Zhang added. Imports, meanwhile, fell 1.4 percent in March. For the first three months of the year, exports climbed 8.4 percent from a year ago while imports rose 0.2 percent. Premier Li Qiang told a cabinet meeting last week that officials should "try every method" to grow trade with developed economies and push companies to further explore emerging market economies, such as those of Southeast Asia. China has set a GDP growth target of about 5 percent this year after a 3 percent increase in 2022. (Agencies)