China's May trade surplus hit $105bn on record exports of $376.78bn. The official manufacturing PMI held at 50.0, services contracted, and the yuan weakened for a second straight week. Trade and domestic demand are telling different stories.
China’s listed developers’ operating revenue growth remains deeply negative with sales proceeds contracting around 10-15% year-over-year, leaving the property sector under continued pressure as markets await July PMI prints. Source
