China’s exports contracted sharply last month, deepening worries over slowing growth in the world’s second-largest economy.
February exports shrank 20.6% from a year earlier to 821.8 billion yuan ($126 billion), according to data from China’s General Administration of Customs. That’s a steeper drop than the 6.6% contraction the previous month.
China’s economy is now registering its slowest pace of growth in 25 years after decades of breakneck expansion. Investors are worried about the scale of the slowdown, which has set off waves of volatile trading in stocks, commodities and currencies in recent months.
Source: CNN (8 March 2016)