Growth in Chinese exports and imports outstripped expectations in June, data showed today, fuelling hopes of stability in the world’s second-largest economy. Exports rose 11.3 percent from a year ago to USD 196.59 billion, the customs administration said, topping a Bloomberg News forecast of 8.9 per cent. Imports were up 17.2 percent year-on-year — compared with an expected increase of 14.5 percent — to USD 153.83 billion, lifting the trade surplus to USD 42.76 billion.
The latest data could soothe concerns that the Chinese economy is losing momentum as Beijing clamps down on free- wheeling credit and property purchases that have been key drivers of growth for years. It also comes ahead of US-China talks in Washington next week where they are expected to assess the results of a 100- day action plan aimed at improving trade ties between the economic rivals.