China’s trade growth slows in July

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China’s trade grew 12.7 percent in July, reaching 2.32 trillion yuan, according to official data released on Tuesday.

Exports rose 11.2 percent in July in yuan terms, the customs administration said Tuesday. Imports increased 14.7 percent to leave a trade surplus of 321.2 billion yuan (47.9 billion US dollar).

China’s imports in July stood at one trillion yuan, up 14.7 percent year on year, also slower than June's 23.1 percent growth.

AFP Photo

July exports were up 11.2 percent in yuan terms while imports were up 14.7 percent in yuan terms from a year ago, which is slightly lower than June's 11.3 percent on-year rise.

Exports in yuan terms rose 11.2 percent in July on year while yuan-termed imports increased 14.7 percent in the same period, which is that put the country's trade surplus at 321.2 billion yuan (47.86 billion US dollar) for July.

China's economy in the first half of the year, grew 7.7 percent in the period, easily outpacing overall GDP growth of 6.9 percent.

The economy in the first half of the year was stable, and it's expected to continue growing in the second half.

AFP Photo

"China's economic performance in July was stronger than expected, mainly due to sustained recovery in the manufacturing sector," Zhengsheng Zhong, Director of Macroeconomic Analysis at CEBM Group, said in a note accompanying the data release.

"However, downward pressure on the economy likely remains as the index gauging companies' confidence towards the 12-month business outlook dropped in both the manufacturing and services industries."

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