China imports, exports slump

Chinese exports and imports fell sharply in March, data showed Thursday, as officials noted that the world's second-largest economy faces headwinds from tougher regional competition and "friction" with trade partners. The figures are potentially another cause for concern about the the economy, which has shown signs of weakness recently with a string of disappointing indicators on trade, industrial output and consumer spending. Imports slumped 11.3 per cent year-on-year to $162.4 billion while exports fell 6.6 per cent to $170.1 billion, the General Administration of Customs announced, resulting in a surplus of $7.7 billion. China recorded a surprise deficit of $884 million in March last year, according to AFP.