China trade balance: USD +28.05bn (vs. expected +$39.05bn)

USD terms China trade balance USD surplus of 28.05bn

• expected +$39.05bn, prior was +$41.47bn

Exports: +12.2% y/y

• expected +10.0%, prior +11.2% y/y

Imports: +27.3% y/y

• expected +17.0%, prior +14.1% y/y

We had the CNY denominated numbers earlier:

• China trade balance CNY +176.96bn (vs. expected +CNY 227.1bn)