China imports, exports plunge on Covid rules

Imports in November fell 10.6% year-on-year, the biggest drop since May 2020, while exports fell 8.7% over the same period, the steepest decline since February 2020. — Bloomberg

BEIJING: China’s imports and exports plunged in November to levels not seen since early 2020, official say, as severe Covid restrictions hit the economy hard.

The last major economy still wedded to a zero-tolerance virus policy, Beijing’s snap lockdowns, travel curbs and mass testing have stifled business activity, disrupted supply chains and dampened consumption.