China's exports fall most in three years as global economy struggles

China's exports fell the most in three years in June, slumping a worse-than-expected 12.4 per cent year-on-year, as signs mount of stress from the struggling global economy and Chinese policymakers face growing pressure for stimulus measures.

Momentum in China's post-pandemic 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 as factory output slows in the face of persistently weak global demand.

Chinese Premier Li Qiang, who took up his post in March, has talked a good game on rolling out policy measures to boost demand and invigorate markets, but few concrete steps have been announced and investors are growing impatient. South Korean shipments to China, a leading indicator for China's imports, fell 19.0 per cent last month, the smallest decline since October but suggesting demand for semiconductors and other components used to manufacture electronic goods remains weak.

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