July 10, 2012 / 3:37 AM / 6 years ago

China trade seen better in H2 vs H1: Vice Minister

BEIJING (Reuters) - China should be able to achieve its 10 percent annual growth target for total trade in 2012 with the second half of the year likely to show an improvement versus the first six months, Vice Commerce Minister Wang Chao said on Tuesday.

China published data on Tuesday showing imports rose 6.3 percent in June from a year earlier, less than half the 12.7 percent increase forecast in a Reuters poll as domestic demand flagged in the world’s second biggest economy.

Exports grew 11.3 percent in June from a year earlier, faster than market expectations for a 9.9 percent increase though easing from May’s surprisingly strong rise of 15.3 percent.

That left the country with a trade surplus of $31.7 billion in June, compared with a forecast of $21.0 billion and May’s $18.7 billion.

Wang was speaking to reporters at a conference.

Reporting by China Economics Team; Editing by Nick Edwards

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