China’s imports surge in March as exports soften amid Hormuz blockade

China’s export growth softened in March as disruptions in the Strait of Hormuz drove up transport costs and energy prices, a trend which also led imports to rise considerably. Exports rose 2.5 per cent year on year to US$321.03 billion in March, according to data released by China’s General Administration of Customs on Tuesday. The reading fell short of the 4 per cent growth forecast by economists polled by the financial data provider Wind. Imports grew by 27.8 per cent to US$269.9 billion over...