REUTERSChina's exports and imports returned to growth in April after contracting in the previous month, customs data showed on Thursday, signalling an encouraging improvement in demand at home and overseas in a boost to a shaky economic recovery. The weak domestic demand led to deflationary pressure, which boosts China's export competitiveness," said Zhang Zhiwei, chief economist at Pinpoint Asset Management. China has set an economic growth target for 2024 of around 5%, which many analysts say will be a challenge to achieve without much more stimulus. Chinese exporters had a tough time for most of last year as soaring interest rates weighed on overseas demand. Analysts say Chinese exporters are continuing to slash prices to maintain sales abroad amid the weak domestic demand conditions.

Source: bd News24 May 09, 2024 06:08 UTC