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China’s June trade balance (CNY): Surplus expands to 261.90 bn, a big beat

China’s  trade balance  for June, in Yuan terms, came in at CNY 261.90bn versus CNY 165.61bn expected and CNY 156.51bn last. Exports came at +3.1% y/y vs +7.1% expected and +3.2% last, while imports were +6.0% y/y vs +10.5% expected and +15.6% last.            

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