China posts 7.2% import jump for July as stimulus spurs industrial demand

Exports up 7%, led by shipments to Southeast Asia, EU and U.S.

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An aerial view shows containers and cargo vessels at the Qingdao port in Shandong province, China.  © Reuters

CK TAN, Nikkei staff writer

TOKYO -- China's import expansion beat forecasts in July, suggesting stronger industrial demand fueled by stimulus measures.

Inbound shipments grew 7.2% on the year in dollar terms, the fastest pace since April and reversing a contraction in June, according to Chinese customs data released on Wednesday. The pace was far quicker than the 3.5% forecast by economists in a Reuters poll.

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