China exports growth slows, imports turn positive
Growth in China's exports slowed last month while imports returned to the black, customs data showed on Wednesday. Exports were up 7 percent in July year on year after posting an 8.6 percent increase the month before, the strongest rise in 15 months. July's figure was the weakest since April. For the first seven months of the year taken together, exports rose 6.7 percent from a year ago. Imports, meanwhile, rose at a robust 7.2 percent last month, compared with a 2.3 percent contraction in June. July's imports growth was the fastest in three months. Imports climbed 5.4 percent in the January-July period. China's trade surplus narrowed to US$84.65 billion in July from US$99.05 billion in the previous month. For the first seven months of 2024, the trade surplus expanded by 7.9 percent year on year to US$518 billion. Concerns remained for the world's second-largest economy after second-quarter GDP growth slowed to 4.7 percent from 5.3 percent in the January-March period, keeping alive calls for policymakers to roll out more support to reach the government's full-year growth target of around 5 percent. (Reuters/Xinhua)