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Rise in China’s imports and exports eases global growth fear

The rise in China’s exports and imports has eased the global fear of economic growth.

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The rise in China’s exports and imports has eased the global fear of economic growth.

Exports grew by 32% year on year in June to $281bn (£203bn), according to figures from China’s General Administration of Customs. This is up from the 28% growth recorded in May, and better than analysts had expected. It marks 12 months of continuous export growth.

Imports were also stronger than expected, up 36.7% in June from a year earlier to $230bn, although the growth rate slowed from May’s 51%. China’s trade surplus rose to $51.5bn in June from $45.5bn in May.

The rise in coronavirus cases, especially in Southern China caused an immense delay in the shipment. Exports to the UK rose just 9.2%. Shipments to the US increased nearly 18% but marked the slowest pace since July last year.

China has become the second-largest economic hub of the world. The US is having fear of China’s growing economic influence on the world.

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