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Eurozone and US hit China trade balance

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Eurozone and US hit China trade balance

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China has recorded its first trade deficit for 11 years, according to official figures.

The world’s second largest economy posted a deficit of just under $31.48 billion in February.

China is normally a net exporter of goods but is suffering from the effects of the eurozone crisis and a slow economic recovery in the United States.

A deficit had been expected but the figure exceeded analysts’ forecasts.