Trade surplus in China lower than reported after accounting for errors

Source: Bloomberg
© Scanpix/Reuters
China reported trade surplus of $61 billion in Q1, while it might be only $6 billion after taking into account fake transactions, according to the Bank of America. It would be the smallest Q1 trade balance since 2004 and lower than $18.8 billion surplus in the same period a year earlier. Export growth is slowing due to the strengthening Yuan and the government's efforts to curb hot-money inflows.
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