- China saw its exports and imports both fall in May amid the coronavirus pandemic, while trade friction with the U.S. weighed on demand both at home and abroad.
- Exports fell 3.3% to $206.8B compared to a year earlier and imports tumbled 16.7% to $143.9B, resulting in a trade surplus of $62.9B - the highest since Reuters started tracking the series in 1981.
- The future of a Phase One trade deal was also in focus as the surplus with the U.S. reached $27.9B (tensions over Beijing's security law for Hong Kong haven't helped the outlook either).
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