China’s May exports and imports beat forecasts

Encouraging figures: Workers stand near a container ship at the port in Qingdao, eastern Shandong province. China’s May exports rose 8.7 from a year earlier, while imports expanded 14.8, official data showed. – AFP

BEIJING: China reported stronger-than-anticipated exports and imports for May despite falling commodity prices, suggesting the economy is holding up better than expected despite rising lending rates and a cooling property market.

Concerns over China landed squarely back on global investors’ radar after Moody’s Investors Service downgraded its credit rating last month, saying it expected the financial strength of the economy would erode in coming years as growth slowed and debt continued to rise.