Outbreaks of COVID-19 cases in eastern and southern Chinese provinces, the country’s main export hubs, had crimped factory output. China’s factory activity expanded at a slower pace in July due to higher raw material costs, equipment maintenance and extreme weather. China posted a trade surplus of $56.58 billion in July, compared with the poll’s forecast for a $51.54 billion surplus and $51.53 billion surplus in June. Its trade surplus with the United States rose to $35.4 billion, Reuters calculations based on customs data showed, up from $32.58 billion in June. For a breakdown of China’s trade with key trading partners, click on(Reporting by Colin Qian, Gabriel Crossley and Beijing newsroom; Editing by Jacqueline Wong)

Source: MetroXpress August 07, 2021 04:30 UTC