China's exports down 14.5 percent in July
Data from the General Administration of Customs showed China's exports fell 14.5 percent in July year on year. It's the third consecutive monthly drop and the biggest decrease since a 17.2 percent decline in January-February 2020 during the early days of the pandemic. For the first seven months of the year, exports grew 1.5 percent from the year before. Imports were also down in July, shrinking 12.4 percent in a sign of sluggish domestic demand. Analysts said the world's second-largest economy is facing weak global demand and a domestic slowdown, and the latest trade figures could prompt Beijing to provide fresh stimulus to boost demand. China's trade surplus, meanwhile, grew by a forecast-beating US$80.6 billion. (Agencies)