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| China's trade surplus rises again but misses forecast | China's trade surplus rises again but misses forecast |
| (40 minutes later) | |
| China's trade surplus continued to rise in May, though the numbers were weaker than what analysts had forecast. | China's trade surplus continued to rise in May, though the numbers were weaker than what analysts had forecast. |
| China recorded a trade surplus of $13.1bn (£8bn) for the month, according to China's customs agency. Analysts had forecast a surplus of $18.6bn. | China recorded a trade surplus of $13.1bn (£8bn) for the month, according to China's customs agency. Analysts had forecast a surplus of $18.6bn. |
| Exports from the mainland grew by 19.4% in May compared with the same month a year ago, while imports rose by 28.4%. | Exports from the mainland grew by 19.4% in May compared with the same month a year ago, while imports rose by 28.4%. |
| Analysts said the surprisingly weak numbers indicate the global economic recovery still remains volatile. | |
| "Looking at export figures, they grew at a slower clip last month, indicating there are still uncertainties hanging over the world recovery," said Chen Yong of Huatai Securities in Shanghai. | |
| Export growth in May had slowed from a 30% year-on-year surge seen a month earlier. | |
| Ken Peng of Citigroup warned that growth in China's trade may slow down even further. | |
| "I wouldn't be surprised if next month showed softer numbers," Mr Peng said. | |
| Rebalancing trade | |
| China's economic growth has been powered by a boom in its exports sector. | |
| The country is the world's second largest economy and its biggest exporter. | |
| However, as export demand from key markets like the US and Europe slows, China has instead been looking to boost domestic demand to sustain growth. | |
| Analysts said that even though the export numbers for May were weak, the growth in imports has been encouraging. | |
| "Imports were strong and on par with last month in terms of absolute value, which shows that China's domestic demand remains strong," said Xu Biao of China Merchants Bank. | |
| "In past years, May imports were often smaller compared to April's," Mr Xu added. | |
| The fact the imports grew despite the volatility in global commodity prices shows that domestic demand remains string, according to Dr Eliza Liu of CCB International. | |
| "We expected imports to fall a bit deeper on falling global commodity prices and slowing investment in China," Dr Liu said. | |
| "It turned out things were better than we thought." |