Business

China posts rare trade deficit of 
$12.4 billion in February

BEIJING: China posted a rare trade deficit last month as imports surged more than expected to feed the construction boom.

Imports in yuan-denominated terms surged 44.7 per cent from a year earlier, while exports rose 4.2 per cent, official data showed yesterday.

That left the country with a trade deficit of 60.63 billion yuan (S$12.4 billion) for the month, the General Administration of Customs said. It has not yet published dollar-denominated trade figures, on which most economists and investors base their analysis. - REUTERS

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