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Chinese exports grow in May as trade surplus widens

Published by Stephanie Brooks on June 11, 2012

Economic results out of China this weekend show an increase in exports in May, growing at more than double the pace anticipated. Meanwhile, industrial output and retail sales decreased, showing last week’s interest rate cuts were aimed at reversing a domestic economic slump.

Exports rose 15.3 per cent compared to May 2011, up from April's 4.9 per cent rise, according to data released Sunday.

Imports gained 12.7 per cent over April's 0.3 per cent rise, leaving a global trade surplus of $18.7 billion.

While manufacturing-related figures signaled a domestic slowdown, the exports and imports data out of Beijing was stronger than expected.

China cut interest rates last week for the first time since the global economic crisis in hopes of sparking growth. 

With Spain being the fourth country to seek financial support this weekend, the Chinese government could offer assistance, if necessary, to combat future risks from the European debt crisis. 

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