BEIJING - China's crackdown on fake export invoices used to disguise money flows is probably cutting the nations trade figures, revealing subdued global demand that will weigh on economic growth.
Outbound shipments may have grown 7.1% in May from a year earlier, less than half the previous month's reported 14.7%, based on the median estimate of 34 economists ahead of data due June 8. Import growth probably slowed to 6.9% from April's 16.8%, a Bloomberg News survey showed.
Successful deterrence of fraudulent data through regulatory scrutiny of companies and banks would help restore trust in trade figures, while more accurate numbers may also highlight the urgency for Premier Li Keqiang to shift growth toward domestic consumption. Weakness in exports could also test Li's reluctance to add stimulus to support the expansion of the worlds second-biggest economy.
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