China’s trade growth weakens in July


Trade growth cooled in the world’s second-largest economy as imports rose 11 percent and exports 7.2 percent compared to a year earlier in dollar terms.

Both figures fell short of expectations after June’s equivalent figures of 17.2 per cent and 11.3 percent.

Calculated in US dollars, exports rose at the weakest pace since February to total 193.6 billion dollars in July and imports rose at the weakest rate since December to 146.9 billion dollars.

The slowdown left a trade balance of 46.74 billion dollars for July, down from 48.3 billion dollars a year ago, the General Administration of Customs said.

On July 29 after the latest North Korea missile test, US President Donald Trump tweeted he was “very disappointed” with China, saying Beijing made “hundreds of billions of dollars” from trade with the US but did “nothing” about North Korea.