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BEIJING - China's exports plunged in May for a seventh month as the global downturn battered trade, while imports also dropped sharply, the government reported Thursday.
May exports fell 26.4 per cent from a year earlier, the customs agency reported. That was sharper than April's 22.6 decline and far below March's 17.2 per cent contraction.
Chinese trade collapsed in late 2008 as the global economic crisis cut into demand for Chinese exports. The slump forced thousands of factories to close and threw millions of migrants out of work.
The government is trying to shield China from the downturn by pumping up domestic consumption with a 4 trillion yuan ($US948 billion) to pump money into the economy through higher spending on public works construction and other initiatives.
May imports dropped by 25.2 per cent, the agency said. That was worse than April's 23 per cent fall and matched March's decline.
The decline suggested Chinese demand for iron ore, industrial components and other foreign products is still weak.
Soucre: NZ Herald