China’s exports in January fell by 6.6 per cent in yuan terms compared with the same month last year, following on from a 2.3 per cent rise in exports last December,
Imports continued to fall last month with the pace accelerating to 14.4 per cent in yuan terms from a 4 per cent fall in December.
Trade surplus in January expanded to 406.2 billion yuan (HK$485 billion) compared with December’s surplus of 382 billion yuan.
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However, the customs agency, which is responsible for managing the import and export of goods and services into China, said a leading export indicator rose in January – the first monthly rise since February 2015, and indicated that export pressure was likely to be eased in the second quarter.