Chinese foreign trade falls

CHINA’S foreign trade tumbled 10.8 per cent in January to 2.09 trillion yuan (296 billion euros), the government said Sunday.

Imports plunged 19.7 per cent to 860 billion yuan (122 billion euros) year-on-year in January, after a dip of 2.4 per cent in December, the General Administration of Customs announced.
Exports declined 3.2 per cent to 1.23 trillion yuan, compared with a 9.7 per cent rise in December. China’s trade surplus expanded 87.5 per cent to 366.9 billion yuan, official data showed.
Starting this year, China is releasing trade data in Chinese currency figures, the official Xinhua news agency reported.
Before 2014, China mainly used the US dollar in reporting its trade data.
China’s economy grew 7.4 per cent last year, the weakest growth rate in 24 years, according to official figures released last month. -Sapa-dpa