China data, the trade balance reported for January to March inclusive is 98.3bn yuan surplus
- China trade balance for March alone is surplus of 130bn yuan (via Reuters calculation): expected CNY 158.5bn
- Exports -3.5% y/y: expected -12.8%
- Imports +2.4% y/y: expected -7.0%
For Q1:
- exports -11.4% y/y
- imports -0.7% y/y
Cina customs bureau commetns:
- global economy faces mounting downward pressure
- uncertainties are on the rise
- China's foreign trade is encountering bigger difficulties
