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China's economic growth remains resilient amid slowdown concerns

China's economic growth remains resilient amid slowdown concerns

PanARMENIAN.Net - China's exports and imports rose by more than forecast in May, indicating that economic growth remains resilient amid concerns about a slowdown, BBC News reports.

Exports rose by 8.7% from a year ago in US dollar terms, beating estimates of 7%, after strong demand from Europe.

Imports shot up by 14.8%, compared with estimates of 8.5%, thanks to purchases of processing and assembly products.

Overall, China's trade surplus widened to $40.8bn from $38bn in April.

Data released on Thursday, June 8 also showed China's foreign exchange reserves rose by more than expected in May as tougher capital restrictions took effect.

However, many analysts warn that China's growth is likely to slow gradually in coming quarters.

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