China foreign trade growth slows

CNC report from Beijing
Added On June 9, 2013

China's foreign trade growth slowed sharply in May.

According to the General Administration of Customs, total foreign trade volume grew 0.4 percent year on year in May.

The Saturday's data marks a significant pullback from the 15.7-percent gain in April.

Exports inched up merely one percent while imports declined 0.3 percent, leaving the country with a surplus of 20.43 billion U.S. dollars.

But the export data came in much lower than market expectations.

Experts say the latest data reflect China's recent crackdown on hot money inflow.

Data for many retail sales, industrial output and inflation are due on Sunday.