China's trade weakens; December surplus $16.5B

(AP)? BEIJING ? China's import growth decelerated sharply in December in a new sign the world's second-largest economy is slowing.

The customs agency said Tuesday that December imports rose 11.8 percent over a year ago, down from November's 22.1 percent gain. Exports rose 13.4 percent, down only marginally from the previous month's rate.

The country's politically sensitive global trade surplus widened to $16.5 billion.

Weaker Chinese demand for imports reflects a slowdown in rapid domestic economic growth after Beijing tightened lending and investment curbs to prevent overheating. A slump in global demand for Chinese goods has prompted the government to reverse course and promise measures to shore up growth.

Source: http://feeds.cbsnews.com/~r/CBSNewsTheEarlyShowBoxOffice/~3/gyDpj12O_6U/

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