China imports surge on firmer domestic demand

Steady growth: Sparks fly as a worker produces engineering equipment for export at a factory in Nantong. The official purchasing managers index for the manufacturing sector, a leading economic indicator, stayed at a relatively high level of 51.1 last month. — AFP

BEIJING: China’s imports surged by the fastest pace in a decade last month as domestic demand gained more traction, but policy support is still needed in order to consolidate economic recovery and help hard-hit businesses, officials and experts said.

China’s total foreign trade grew 26.6% year-on-year to 3.15 trillion yuan (US$487.6bil or RM2.01bil) in April. In US dollar terms, imports grew 43.1% last month, the fastest pace in over 10 years, the General Administration of Customs said.