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China export gains seen halved with fake-data crackdown
China’s crackdown on fake export invoices used to disguise money flows is probably trimming the nation’s trade figures, revealing subdued global demand that will weigh on economic growth. Outbound shipments may have grown 7.1 percent in May from a year earlier, less than half the previous month’s reported 14.7 percent, based on the median estimate of 34 economists ahead of data due June 8. Import growth probably slowed to 6.9 percent from April’s 16.8 percent, a Bloomberg News survey showed. Successful deterrence of fraudulent data through regulatory scrutiny of companies and banks would help restore trust in ... (full story)
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