China's economy on way to recovery with growth in imports-exports

London, Aug. 9 (ANI): China's exports and imports reportedly raised more than expected in July indicating to a sharp recovery from the previous month.

According to the BBC, Chinese exports rose 5.1percent compared with a year earlier while imports gained 10.9 percent which meant the trade surplus narrowed to 17.8billion dollars, down from June's 27.1billion dollars.

The analysts said that the results were surprisingly good, but warned against being too optimistic.

Alaistair Chan from Moody's Analytics said that July seems to reflect a return to a 'normal', rather than the beginning of acceleration in growth adding that while the worst seems to be over, the upturn will be relatively flat.

Wei Yao from Societe Generale in Hong Kong said that the higher-than-expected export growth is more of a stabilisation rather than a sharp rebound.

She further added that even though the government has announced some supportive measures, they should not show effects so soon because the fundamentals in the economy did not support such a strong rebound. (ANI)

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