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China economy shows more weakness as imports, exports fall

China's GDP expanded 7.0% in the January-March (2015) period, the worst quarterly result in six yearsChinese imports fell for a seventh straight month in May while exports also sank, according to official data, as the world’s second biggest economy shows protracted weakness despite government easing measures. The disappointing figures, released on Monday, also come as leaders try to transform the economy to one where growth is driven by consumer spending rather than by government investment and exports. Imports slumped 17.6 percent year-on-year to $131.26 billion, the General Administration of Customs said in a statement.

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