Chinese exports rise 16.9% in May, imports up 4.1%

Chinese exports rose 16.9% year-on-year in May to hit $308.25bn, according to the General Administration of Customs, beating analysts' expectations amid a relaxation in recent Covid-19 lockdown measures, while imports rose 4.1% in dollar terms, the first expansion in three months, reaching $229.49bn.

Economists were expecting to see exports rise 8% after a 3.9% gain in April, while imports were projected to rise 2.0% after staying unchanged in the previous month.

The world's second-largest economy also posted a trade surplus of $78.76bn in May - ahead of both the $58.0bn expected and April's $51.12bn surplus.

China's customs office said on Thursday that the Association of Southeast Asian Nations, the European Union, the United States, and South Korea were the country's top four trading partners year-to-date and added that trade growth in the private sector had also picked up.

Reporting by Iain Gilbert at Sharecast.com