Chinese imports contracted sharply in April, while the pace of export growth slowed, reinforcing signs of weak domestic demand despite the lifting of anti-Covid-19 restrictions, and adding pressure to an economy already struggling in the face of slowing global growth.
China's economy grew faster than expected in the first quarter thanks to strong service consumption, but factory output slowed, and the latest trade figures suggest a return to pre-pandemic levels domestically still has a long way to go.
Customs data showed imports in the world's second-largest economy fell 7.9 percent year-on-year, after falling 1.4 percent in the previous month. Exports grew 8.5 percent from a 14.8 percent jump in March.
Source: (Asharq Al-Awsat Newspaper, Edited)
