China February exports surge, imports drop

China's trade rebounded in February from the previous month's surprise contraction but imports were subdued in another sign of continued weakness in the world's second-largest economy.
Exports surged 48.9 percent in February from a year earlier, reversing the 3.2-percent decline in January. However, imports plunged by 20.1 percent, accelerating from the previous month's 19.7 percent fall, according to data from the General Administration of Customs (GAC).
February exports were 1.04 trillion yuan about (169.11 billion U.S. dollars) while imports were 666.1 billion yuan, resulting in a widening trade surplus of 370.5 billion yuan, according to China's (Xinhua) News Agency.
The data came after China lowered its annual target of increasing foreign trade to around 6 percent for this year, from the 7.5-percent goal set for 2014.
China's imports and exports denominated in yuan rose by a mere 2.3 percent in 2014, falling short of the target for the third consecutive year.