China's exports, imports fall as pressures persist

BEIJING (Reuters) -China's exports and imports extended declines in August as the twin pressures of sagging overseas demand and weak consumer spending at home squeezed businesses in the world's second-largest economy, although the falls were slower than expected. While the trade numbers follow a run of other indicators showing a possible stabilisation in China's downturn, they remain far short of the growth economists anticipated earlier this year when the government abandoned its strict COVID curbs. China's economy is at risk of missing Beijing's annual growth target of about 5% as officials wrestle with a worsening property slump, weak consumer spending and tumbling credit growth, leading analysts to downgrade forecasts for the year.

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