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China sees growth in both imports and exports

China sees growth in both imports and exports

Chinese exports grew almost 28% in May from a year earlier, according to the latest China customs administration data.

Although below the pace in April, May exports were well above historical growth rates, Bloomberg has reported. Its imports soared 51.1%, the fastest pace since March 2010, leaving a trade surplus of $45.5 billion for the month.

A resurgence in Covid-19 cases in India and South-East Asia disrupted production in those countries, potentially directing more export orders to China. The country’s manufacturing base is strengthening amid strong global demand as economies across the world open up.