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Chinese trade surplus reveals import weakness

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Chinese trade surplus reveals import weakness

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Analysts say China’s unexpectedly large trade surplus in June shows a weakness in imports as Beijing curbs lending for property and infrastructure investment.

Chinese exports in June rose by 44 percent from a year earlier; economists had forecast a 38 percent rise.

Imports were up by 34 percent year-on-year, in line with projections.

Data released on Monday showed a continued slowdown in bank lending throughout the economy.

The trade surplus figures give ammunition to critics who have accused Beijing of holding down the value of its yuan currency to gain an unfair trade advantage.