China’s exports hit record high

CHINESE exports set record highs for July, official data revealed yesterday. Exports rose 20.4 per cent in July from a year ago, surpassing economists’ median forecasts of a 17.4 per cent rise.

The figures may offset concerns that debt problems abroad will hamper the world’s second largest economy, with exports to the US and Europe holding up well.

Yet analysts warn it is too soon to say whether Chinese exports can remain at current levels in the coming months, due to volatility in the markets and slower consumer spending.