China Posts Mixed Economic Numbers for June
The 6.9 percent decline in the total of imports and exports, according to figures released Monday by the General Administration of Customs, was well below Beijing's official goal of a six percent rise in two-way trade for this year.
For the month of June, the customs office says exports rose 2.8 percent, an improvement over May. Imports dropped by 6.1 percent last month.
China posted a $46.5 billion trade surplus, an increase of 47 percent from the year before.
The customs office say the mixed economic numbers are due to lagging demand among consumers in China's domestic market, as well as sluggish demand in foreign markets.
Greece, Europe Reach Bailout Deal
European Union President Donald Tusk says a Greek bailout deal has been reached after a marathon summit session between Greece and European leaders.
Tusk said Monday from Brussels that a unanimous agreement had been reached after 17 hours of talks.
Details of the agreement on how Greece will deal with its creditors have yet to be made public, but the agreement keeps Greece in the eurozone.
Earlier, the French news agency quoted an anonymous source as saying a "compromise" agreement had been hashed out by Greek Prime Minister Alexis Tsipras with German Chancellor Angela Merkel, French President Francois Hollande and Tusk. Officials met through the night in Brussels.
Earlier reports said before a deal could be sealed, an agreement had to be reached on the future involvement of the International Monetary Fund in Greece's bailout program, and a proposal that Greece must set aside $56 billion worth of assets for eventual privatization.