China’s trade balance (CNY): Surplus expands in May, a big beat

China's trade balance for May, in Yuan terms, came in at CNY 279.12bn versus CNY 136bn expected and CNY 93.57bn last.

Exports came at +7.7% y/y vs. +4.7% expected and +3.1% last, while imports were -2.5% y/y vs. +5.8% expected and +10.3% last.