China exports surge in May

Chinese customs officials have released data showing that exports rebounded strongly in May as Covid restrictions were eased.

Authorities say exports grew by 16.9 percent from the same month a year ago to 308 billion dollars.

The result was a sharp turnaround from April, when the movement of goods and services abroad expanded at its slowest pace in almost two years. That was due to strict coronavirus lockdowns in China's main economic hub, Shanghai.

The May data will come as a relief to nation's policymakers as they chart a path back from the supply-side shock that has jolted the global economy.

Imports into China also grew, but only by 4.1 percent, reaching 229 billion dollars. Total trade value was up 11.1 percent to 538 billion dollars.

The global supply shortage has hit operations at automobile and other manufacturers in Japan.

But activity at Shanghai Port is now returning to normal after restrictions were lifted in most parts of the city.