China's exports fall more than expected

China’s exports and imports weakened in May compared with the same period last year. Chinese exports fell more than expected in May, according to government data. Exports fell 7.5 percent year-on-year in U.S. dollars, above economists’ estimates of 0.4 percent. Imports fell 4.5 percent year-on-year, slightly above expectations for an 8 percent decline. The trade surplus fell short of expectations at $65.81 billion. The onshore Chinese yuan weakened and was last traded at $7.1190 against the U.S. dollar.