(MENAFN) In recent customs data released on Thursday, China's export sector demonstrated a noteworthy resurgence in April, marking a turnaround from the preceding month's sharp decline in March. This rebound, albeit modest, suggests a tentative improvement in external demand, lending credence to policymakers' expectations in Beijing for a continued recovery trajectory throughout the remainder of the year.
During April, the world's second-largest economy saw its exports grow by 1.5 percent on a yearly basis, aligning closely with anticipated figures as indicated by a Reuters poll of economists. This positive development follows a 7.5 percent contraction in exports recorded in March, marking the sector's first downturn since November. Importantly, imports surged significantly in April, expanding by 8.4 percent, surpassing expectations which had forecasted a more moderate increase of 4.8 percent.
While China's economy outpaced projections in the initial quarter of the year, concerns arose following March's data release which pointed to potential vulnerabilities in exports, consumer inflation, producer prices, and bank lending. Additionally, the persistent challenges in the real estate sector, which have shown no signs of abating, have led some stakeholders to advocate for additional stimulus measures.
In response to these economic dynamics, the Political Bureau of the Chinese Communist Party, the nation's principal decision-making body, unveiled plans last month to bolster support for the economy through a combination of prudent monetary policies and proactive financial measures. These initiatives include considerations such as interest rate reductions and adjustments to mandatory reserve ratios for banks, aiming to sustain momentum and navigate potential headwinds on the path to recovery.
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