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China’s exports fell 8.8 percent in August year-on-year, beating a forecast of 9.2 percent drop forecast in a Reuters poll, while imports contracted 7.3 percent, slower than an expected 9.0 percent decline, customs data showed on Thursday.
“Trade is still contracting,” said Frederic Neumann, chief Asia economist at HSBC, adding that “there is a bit of a sign here of stabilisation, but I think there’s still a long way to go.”
It is worth mentioning that Beijing has announced a series of measures in recent months to shore up growth, with the easing of some borrowing rules last week by the central bank and the top financial regulator to aid homebuyers.
