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China's exports slump on weak demand

Chinese policy-makers face mounting pressure to support economic growth after an unexpectedly large drop in exports last month and the steepest decline in producer prices in almost six years.

China's producer-price index fell 5.4pc year-on-year in July, according to National Bureau of Statistics data released yesterday. The decline - the biggest since October 2009 - came on the heels of trade data on Saturday that showed exports last month shrank 8.3pc from a year earlier, compared with an estimated decline of 1.5pc.

The data indicate weak demand for Chinese factory products both at home and abroad.

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