Chinese imports decline for 12th month in a row

October became the 12th consecutive month of decline for Chinese imports, data published on Sunday revealed.

Imports dropped 18.8% year-on-year to $130.8bn, although this was less of a decrease than the 20.4% drop reported the previous month.

Meanwhile, exports fell for a fourth month, down 6.9% to $192.4bn as a result of weaker demand.

At $61.6bn, the country, which is the biggest goods trader in the world, now has its highest trade surplus ever recorded.