China released its January trade performance on Sunday, which was far worse than analysts had expected. According to the General Customs Administration, the total trade volume in January was about 2.1 trillion yuan, more than 10 percent less than a year ago. In the same period, exports fell 3.2 percent year-on-year, while imports tumbled nearly one-fifth. As a result, China also posted a record monthly trade surplus of 60 billion U.S. dollars.
Analysts say the shrinking imports were mainly caused by the weak demand in coal, oil and major commodities. The latest trade data raised worries on China's economy, especially compared with a better-than-expected performance in December.
In 2014, China's total trade value increased by 3.4 percent, which was much less than the official target of 7.5 percent. Investors are now expecting more easing, and supporting policies could restore confidence and a boost in demand in China's manufacturing industry.