China’s export growth slowed to a three-month low in May, new data show, as teams from Washington and Beijing meet in London for trade talks.
Total exports from the world’s second largest economy expanded by 4.8pc year-on-year last month, down from 8.1pc in April and below analyst expectations of 5pc, according to customs data.
China’s exports to the US plunged by 34.5pc in the sharpest drop since the outbreak of the Covid pandemic in February 2020.
Imports dropped 3.4pc, deepening sharply from the 0.2pc decline in April, despite the trade deal agreed between Beijing and Washington in Geneva at the start of last month.
Zichun Huang of Capital Economics said: “The slowdown in export growth in May should partially reverse this month, as it reflects the drop in US orders before the trade truce, which took time to feed through to actual shipments.
