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China’s Trade Surplus Jumps 40%
China's trade surplus surged 40% to 368 billion yuan from July to August as low prices for oil and other commodities cut imports, according to the country's General Administration of Customs.
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China's trade surplus surged 40% to 368 billion yuan from July to August as low prices for oil and other commodities cut imports, according to the country's General Administration of Customs. It was China's largest surplus since February.
Imports, which have been shrinking for the past 10 months, plunged 14% in August. China's exports declined 6%. In terms of U.S. dollars, exports fell to $197 billion and imports declined to about $137 billion.
Beijing now estimates China's economy will grow 7.3% this year, its weakest pace in nearly 25 years.
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