Momentum in China's post-COVID recovery has slowed after a brisk pickup in the first quarter, with analysts now downgrading their projections for the economy for the rest of the year.
"But the good news is that the worst of the decline in foreign demand is probably already behind us," she added.Lv Daliang, a spokesperson for the General Administration of Customs, blamed the poor export performance on "a weak global economic recovery, slowing global trade and investment, and rising unilateralism, protectionism and geopolitics," in comments at a news conference in Beijing.
The government has set a modest GDP growth target of around 5% for this year, after badly missing last year's goal.
Source: Financial Digest (financialdigest.net)
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