China's Competitiveness Slides, Biting Into Exports

China’s exports unexpectedly declined in April and imports slumped, adding downward pressure on an economy grappling with overcapacity and waning competitiveness.

Overseas shipments fell 6.2 percent from a year earlier in yuan value, the customs administration said in Beijing on Friday. That compared with the median estimate for a 0.9 percent rise in a Bloomberg survey of analysts. Imports slid 16.1 percent -- the fourth straight double-digit decline -- leaving a trade surplus of 210.21 billion yuan ($33.9 billion).