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China Aug dollar-denominated exports -2.8% on-year,imports +1.5%

Exports slid 2.8 percent on-year following July's 4.4 percent drop, coming in better than Reuters expectations for a 4 percent decline.

September 08, 2016 / 08:30 IST
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Weakening exports continued to dog the world's second-largest economy in August but imports were a surprise bright spot, Reuters reported on Thursday, citing official data.

Exports slid 2.8 percent on-year following July's 4.4 percent drop, coming in better than Reuters expectations for a 4 percent decline.

Imports rose 1.5 percent on-year, reversing a 12.5 percent fall in July and beating Reuters' estimated 4.9 percent fall.

That brought a trade surplus of USD 52.05 billion, slightly below July's USD 52.31 billion, which was a seven-month high, and missing estimates for USD 58 billion.

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The Australian dollar, considered a proxy for China's economy, edged up to USD 0.7683 against the greenback, from USD 0.7677 ahead of the data.

Mainland and Hong Kong equity markets were little changed.