USD terms:

85.15bn USD

• expected 95.97bn, prior 84.74bn

Exports -0.3% y/y, a big miss

• expected 4.5%, prior 5.7%

Imports -0.7% y/y also a miss

• expected flat at 0%, prior +0.3%

CNY terms (a falling CNY accounting for the difference from USD terms)

• Trade balance +568.1 bn yuan
• exports +7% (expected +12.7%, prior +10.7%)
• imports +6.8% (expected +10.0%, prior +5.2%)