CHINA: China's foreign trade surprisingly strong in May

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China's export and import of commodities in May were even stronger than the most optimistic forecast, with export soaring 49% y-o-y, at the fastest pace in six years, and import leaping 48% y-o-y, according to the China Customs.

In the month, China's export to the EU - China's largest trade partner - jumped 50%, and import from the EU rose 45%, which showed that the debt crisis in Europe seems not to have impacted the EU-China trade.
 
In January-May, China's export increased 33% y-o-y to USD 568bn and import rose 58% to USD 532bn. Economists are optimistic about the prospect of China's foreign trade in the rest of the year because the global economy is on its way of recovery.