Economics
Soaring Chinese Imports From Hong Kong Renew Fake Trade Concerns
- Mainland's imports from Hong Kong surged by 108% in January
- Analysts say phony trade invoices are used to move capital out
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A surge in China’s imports from Hong Kong has raised fresh concern trade invoices are being manipulated to get capital out of the country.
January data released Monday show imports from the territory leaped 108 percent from a year earlier even as total imports dropped by 18.8 percent and inbound shipments from other major trading partners fell.