China's exports up 2nd straight month

China's latest trade statistics show exports were up for a second consecutive month in May. The growth was mainly driven by strong sales to Southeast Asia.

China's customs authorities said on Friday the monthly value of exports increased 7.6 percent in dollar terms compared to a year ago. Electric vehicles and home appliances were particularly strong.

Imports grew slightly, rising 1.8 percent year-on-year. The uptick was led by an increase in chip purchases.

Domestic demand is sluggish in China due to the effects of a prolonged property slump and tough job market. Exports are expected to drive economic growth.

But there are concerns in the US and Europe about the low prices of Chinese EVs due to overproduction. Government responses to this situation could weigh on China's export figures in the future.