China’s Trade Hits Lowest Amid COVID-19 Curbs

China’s trade plummeted in November to the lowest levels since the early days of the COVID-19 pandemic.

This is according to official figures, underscoring the heavy economic toll of Beijing’s “zero COVID” policies.

Imports fell 10.6 per cent year-on-year while exports dropped 8.7 per cent, Chinese customs data showed on Wednesday.

The slump in trade marks the steepest decline in imports and exports, respectively, since May 2020 and February 2020.

The weak figures come after China’s factory activity shrank for a second straight month in November as rising COVID cases prompted authorities to impose new restrictions in big cities including Shanghai, Beijing and Chengdu.