China’s April trade balance (CNY): returns to surplus on exports rebound

China's trade balance for April, in Yuan terms, came in at CNY 182.8bn versus CNY 189.2bn expected and CNY -29.8bn last. Exports came at +3.7% y/y vs +4.0% expected and -9.8% last, while imports were +11.6% y/y vs +10.4% expected and +5.9% last.