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China's import surge exposes dependence on pricey overseas resources

April imports jumped 43% in dollars, even as iron ore and soy volumes stayed roughly flat

A tanker docks at the Port of Qingdao in China. Crude prices have more than doubled from a year ago, boosting Chinese imports by value.   © Reuters

BEIJING/NEW YORK -- China's imports grew by their fastest pace in more than 10 years by value in April, fueled by the nation's economic recovery from the pandemic as well as the rising global commodities prices.

Imports increased 43% on the year in dollar terms, the General Administration of Customs announced Friday.

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