China May imports and exports surpass forecasts

China May imports and exports surpass forecasts

China posted stronger-than-anticipated imports and exports for May notwithstanding sagging commodity prices. It drops a hint that the Chinese economy’s holding up better than previously expected notwithstanding leaping lending rates as well as a cooling property market.

Worries over China landed back on global traders’ radar after Moody's Investors Service dared to downgrade its credit rating the previous month, stressing it actually expects the financial strength of the Chinese economy will move down in the nearer future because surge slows and debt keeps ascending.

Imports have been sturdy in recent months, powered mostly by iron ore as well as other commodities employed to feed a year-long construction boom. Meanwhile, exports have rebounded due to stronger global demand, following several years of contraction.

However, surge in both imports and exports defined those hopes and leapt from April.

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