China's February trade performance was far worse than economists had expected, days after top leaders at the National People's Congress sought to reassure investors about the world's second-largest economy.
Exports fell 25.4% from a year earlier, the biggest drop since May 2009, while imports slumped 13.8%, leaving a trade surplus of $32.59B.
"It's easy to blame Chinese New Year distortions, but there is a much deeper malaise that is becoming apparent in the numbers," said Frederic Neumann, co-head of Asian economic research at HSBC.
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