China's politically sensitive trade surplus expanded to $13.05 billion in May from the previous month as the value of exports hit a new record high, government data showed today.
The trade surplus - a major bugbear for China's key trade partners, the US and Europe - was bigger than the $11.4 billion recorded in April but sharply lower than forecasts for $18.6 billion.
Exports growth slowed last month, rising 19.4% year-on-year to $157.16 billion, but they were still a record high for a single month based on previous data. Imports gathered pace, soaring 28.4% from a year earlier to $144.11 billion.
In April, exports rose 29.9% to $155.7 billion while imports increased 21.8% to $144.3 billion.
The stronger than expected increase in imports could help ease concerns that the world's second largest economy is slowing down.
Beijing has been pulling on a variety of levers to cool the economy, which grew 9.7% in the first quarter, as leaders fret that high inflation and soaring house prices could trigger social unrest.
There are growing signs the measures are bearing fruit - China's manufacturing activity expanded at the slowest pace in 10 months in May and year-on-year car sales fell in May for the second month in a row.
Analysts have played down concerns about a potential hard landing for the Asian powerhouse due to persistent government efforts to stem a flood of credit into the economy and tame inflation, which is hovering above 5%.
China has already hiked interest rates and increased the amount of money banks must keep in reserve numerous times in recent months - yet inflation has gathered pace.
