China trade shows signs of recovery
In a sign that China's economy made be stabilising, new government data has revealed that the country's exports and imports grew in July.

Exports rose 5.1 percent year-on-year, up from a 3.1 percent fall in June.

Imports were up 10.9 percent year-on-year, rebounding from a 0.7 percent fall last month.

China's economy – seen as a potential driver of global recovery – recorded its worst performance in more than a decade in 2012, with GDP expanding 7.8 percent.

In recent weeks the government has stepped up efforts to support the economy, announcing a series of small, targeted measures, including the temporary cancellation of taxes for small businesses. It also announced the cancellation of some customs inspection fees and simplified approval procedures in a bid to boost exports.

The overall trade surplus fell to 29.6 percent year-on-year to $17.8 billion.

Image: © Getty

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