CHINA'S trade growth continued on a fast track last month with the value of exports hitting the highest point in nearly two years, but the advancing paces of both exports and imports were slower form that in May.
Analysts warned, however, of uncertainties ahead because of the European sovereign debt crisis, the fading effect of a low comparative base and growing pressure from a stronger yuan.
China settled last month's trade volume at US$254.7 billion, a record high since July of 2008, the General Administration of Customs said.
China's export jump of 43.9 percent from a year earlier, to US$137.4 billion in June, was lower than the surge of 48.5 percent a month earlier.
The June gain in imports of 34.1 percent, to US$117.3 billion, was less than the gain of 48.3 percent in May, the Customs said.
The trade surplus in the first six months dropped 42.5 percent from a year earlier to US$55.3 billion, helped by faster growth in imports than exports in the previous months.
"China's trade performance is quite impressive against the background of deteriorating crisis elsewhere in the world," said Xue Jun, an analyst at CITIC Securities Co. "China's strong and stable economy is a solid backup for the trade growth."
Xue warned the exports advance may slow in coming months because of the debt crisis affecting the European Union.
Li Maoyu, an analyst at Changjiang Securities Co, said the tendency of a stronger yuan may also deal a blow to China's exports, an important driver for China's economy.
The yuan has appreciated against the US dollar to 6.78 from 6.83 since China announced last month to make its foreign exchange regime more flexible.
The European Union remained China's largest trading partner in the first half with a bilateral trade volume of US$219.4 billion, up 37.2 percent from a year earlier.
Europe was followed by the United States and Japan, with the volume standing at US$171.9 billion and US$136.5 billion, respectively.
Trade between China and the Association of Southeast Asian nations climbed by 54.7 percent to hit US$136.49 billion last month. China's trade with Brazil jumped by 60.3 percent to US$26.39 billion.
Guangdong Province was the biggest hub for Chinese traders, with US$345.2 billion worth of goods being traded in the first half.
Shanghai took the third perch after Guangdong and Jiangsu Province, with a trade volume of US$171.7 billion through June, up 42.5 percent from a year earlier.