China's exports fell in June as the United States ramped up trade pressure,...
BEIJING - China’s exports fell in June as the United States ramped up trade pressure, while imports shrank more than expected, pointing to further weakness in the world’s second-largest economy and slackening global growth.
Other data released on Friday showed new bank loans rose to a three-month high in June as policymakers sought to keep ample funds in the financial system, though the tally was less than analysts had expected. That left China with a trade surplus of $50.98 billion last month, compared with a $41.66 billion surplus in May.
The central bank has also slashed banks’ reserve requirements six times since early 2018, freeing up more money to lend, with more cuts expected in coming quarters. Some analysts believe it could also trim short-term borrowing rates if the U.S. Federal Reserve eases policy later this month.
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