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MNI BRIEF: High Base, Pandemic To Slow China H2 Trade Growth: Customs

MNI (Singapore)

China's overseas trade growth may slow in the second half of the year from a high base last year and uncertainties around the global pandemic, said Li Kuiwen, China Customs spokesman, at a briefing on Tuesday.

Li added that trade flows were still expected to show growth, but uncertainties and instability amid the changing global pandemic situation remain. Overseas trade in H2 2020 grew about 27% y/y over the first half of last year, pushing up the comparison base for this year, according to Li.

Imported inflation risks are still manageable with the government's recent move to increase commodity supply and stabilise prices, said Li, adding that improved economic conditions are conducive to maintain the stability of prices.

China's H1 overseas trade totalling CNY18.07 trillion (USD2.8 trillion), a "best level" when compared to the more normal 2019 first half year.

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