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Chinese exports said to soar

Chinese exports said to soar
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Chinese exports reportedly grew in May by about 50 percent compared with the same month last year.

That is according to a Reuters report quoting sources who spoke one day before the official release of the government figures.

That would be much higher than economists’ forecasts of a 32 percent rise year-on-year, following on from April’s 30.5 percent increase.

The data reassured investors who have been worried that the European debt crisis would weigh on the global economy.

One economist said, if confirmed, the surge in external demand would suggest that the risk of a Chinese economic downturn is very small.

Sources also told Reuters that China’s domestic economy is performing in line with relatively strong expectations.