介绍:
Latest official figures show China's exports slumped more than expected in February, as weak global demand and seasonal factors added to pressure on the slowing economy.
China's exports in yuan-denominated terms slumped nearly 21 percent year on year to about 821 billion yuan or some 126 billion U.S. dollars in February.
This while imports dropped 8 percent to some 612 billion yuan.
The decline in exports widened from a 6.6 percent decrease in January.
The decline of imports narrowed from 14.4 percent a month earlier.
HSBC chief China economist Qu Hongbin has cited sagging external demand as the main reason behind the February export decline.
Meanwhile, he has attributed the milder import decrease to stabilizing commodity prices, noting that domestic demand remains subdued.
The monthly foreign trade surplus shrank by about 43 percent year on year to 209.5 billion yuan in February.
Total foreign trade value in February fell nearly 16 percent year on year to 1.43 trillion yuan, a steeper decline than the 9.8-percent contraction seen in January.
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