China’s trade surplus expanded to RMB850 billion (US$136.7 billion) in the second quarter, for an overall first-half trade surplus of RMB1.6 trillion that was 150% higher than the same period in 2014, The Financial Times reported, citing figures from the General Administration of Customs. The ballooning trade surplus reflects a collapse in commodity prices over the last year rather than a robust export sector: China’s overall foreign trade fell 6.9% in the first half to RMB11.5 trillion, with exports down 0.9% and imports falling 15.5%. The latter figure reflects steep falls for many commodities, prices for which have been driven down in part by the country’s slower economic growth.
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