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China Exports Tumble in February by Investing.com

© Reuters. China's February exports tumbled 20.7% year on year Investing.com – China's tumbled 20.7% year-on-year, data from the National Bureau of Statistics showed on Friday. Export reading in February came in February much lower than market expectations for a decrease of 4.8%. It also turns January profits of 9.1%. was also down 5.2%, while the market only estimates a decline of 1 .4%. The decline has left China with one in February of $ 4.12 billion, much less than the expected $ 26.38 billion. February export data represented the largest tumble in three years, and imports also fell for a third straight month. These data came at a time when China was already showing signs of a slower economy. On Tuesday, Chinese politicians lowered GDP growth targets to between 6% and 6.5%. Last year, China expanded by 6.6%, which was the slowest rate of growth since 1990. China's Finance Minister Lui Kun said on Thursday that the country would use tax relief to defend the slowing economy. While an economic slowdown in China may be behind the worse than expected data in February, seasonal factors may also have contributed to the pink data in January. Exporters tend to load their deliveries before the weekly Lunar New Year annual festival that takes place in February. The ongoing trade war between the US and China was also mentioned as a negative impact on Chinese factories, although both sides are reported wanting to close the trade negotiations soon. "Right now, I think…


© Reuters. China’s February exports tumbled 20.7% year on year

Investing.com – China’s tumbled 20.7% year-on-year, data from the National Bureau of Statistics showed on Friday.

Export reading in February came in February much lower than market expectations for a decrease of 4.8%. It also turns January profits of 9.1%.

was also down 5.2%, while the market only estimates a decline of 1

.4%.

The decline has left China with one in February of $ 4.12 billion, much less than the expected $ 26.38 billion.

February export data represented the largest tumble in three years, and imports also fell for a third straight month.

These data came at a time when China was already showing signs of a slower economy.

On Tuesday, Chinese politicians lowered GDP growth targets to between 6% and 6.5%. Last year, China expanded by 6.6%, which was the slowest rate of growth since 1990.

China’s Finance Minister Lui Kun said on Thursday that the country would use tax relief to defend the slowing economy.

While an economic slowdown in China may be behind the worse than expected data in February, seasonal factors may also have contributed to the pink data in January. Exporters tend to load their deliveries before the weekly Lunar New Year annual festival that takes place in February.

The ongoing trade war between the US and China was also mentioned as a negative impact on Chinese factories, although both sides are reported wanting to close the trade negotiations soon.

“Right now, I think it’s just a lot of work to get down words … an agreement or an agreement, and that’s the current status,” Ted McKinney, undersecretary for US Trade and Foreign Agricultural Affairs, told a press release .

Bloomberg reported that US President Donald Trump is pushing for negotiators to close a Chinese-US trade department before the 2020 campaign.

The poorer than expected export data sent Chinese stocks further down on Friday afternoon. At 11:03 ET (04:03 GMT), it was down 2.90% and it lost 1.55%.

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