China exceeds Q2 trade predictions after fears of economic slowdown in Asia
China's imports and imports have risen by more than Q2 projection forecasts last month, signifying that economic growth remains robust after recent concerns about a slowdown in Asia. Exports increased by 8.6% from a year ago in US dollar terms, topping estimates of 7%, after high demand from Europe. Imports also increased by a hefty 14.7%, compared with estimates of 8.3%, thanks to a surge in purchases of assembly and processing products. China's foreign exchange reserves also increased by more than expected last month as stricter capital restrictions took effect. Generally, it was an impressive quarter for China, as the country’s overall trade surplus expanded to USD $40.4B from $37B last month.
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