China customs say that 1H trade conditions were resilient due to stable economy
Comments by China customs spokesperson, Li Kuiwen
- China's economy is in a proper range so far this year
- Trade is facing pressure but still has good outlook
Not giving too much away ahead of the Q2 GDP report next Monday but with officials having said that they expect the Chinese economy to grow around 6.0% to 6.5%, that remains the expectations in the bigger picture.
But just be wary that headlines may tell a different story come Monday with expectations of China's Q2 GDP to fall to +6.2% y/y, the weakest annual growth pace since Q1 1992. That could trigger a bit of negative/sour sentiment in markets.