Trade figures indicate the economy continued to weaken in May, with imports tumbling by their most since February.
Imports to China fell 17.6 per cent year-on-year (in US dollar terms), nearly twice as bad as forecasts for a 10 per cent tumble. This is the seventh straight months of falling imports, suggesting consumption in China continues to wane.
Exports, the driver of China's boom, fell 2.5 per cent from a year ago, a third straight month of decline. The drop was, however, better than expected and compares with year-on-year falls of 6.4 per cent in April and 15 per cent in March.
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