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More bad news from China.

Chinese imports were down 5.6 per cent year-on-year in November and exports also dropped 3.7 per cent, according to latest data.

Chinese imports and exports both fell again in November, the latest ambivalent figures from the world’s second-largest economy show.

• Spike in Chinese tourists to Australia
• RBA confident on China benefit

Customs said on Tuesday imports dropped 5.6 per cent year-on-year to 910 billion yuan ($A195.42 billion), while exports were down 3.7 per cent to 1.25 trillion yuan, although the latter was ahead of expectations and both falls were smaller than in October.

The trade surplus was 343 billion yuan.

The news comes on the back of lower growth figures for the third quarter when the economy grew at 6.9 per cent, the lowest since the first quarter of 2009 when the country was in recession during the global financial crisis.

Lower Chinese growth is making itself felt among Australian resource companies with the iron ore price falling below $US40 ($A 55.22) a tonne in recent days.

 

BEIJING, AFP

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