China has experienced its first monthly fall of imports in one and a half years. The government may fear that hardline zero-Covid strategy could threaten the country’s massive export machine and impede economic growth.
March imports were down 0.1 per cent year on year to US$228.7 billion, the first decline since August 2020, customs data showed.
Chinese exports rose 14.7 per cent from a year earlier to US$276 billion last month, slowing from 16.3 per cent in the first two months.