The Shanghai Composite Index, China’s stock markets closed higher today. China’s June exports grew the strongest in five months.
The Shanghai Composite Index closed at 3,284.29, up 2.83, or +0.086%.
The China Customs Agency (GAC) reported today that China’s June exports rose 17.9 percent year-on-year. It recorded its strongest gain in five months, indicating that the world’s second-largest economy is starting to recover. following being hit hard by the use of lockdown measures to control Covid-19
However, June imports rose only 1% year-on-year. This was slower from a 4.1 percent growth in May and lower than analysts’ forecast of a 3.9 percent rise due to strict measures to curb the spread of the coronavirus. As a result, domestic consumption weakened.
China’s June trade surplus was 97.94 billion dollars. increased from 7.87.6 billion dollars and higher than analysts’ estimates of $75.7 billion.
