China’s exports and imports unexpectedly contracted in October, the first simultaneous slump since May 2020, as COVID curbs at home and global recession risks dented demand.

Outbound shipments in October shrank 0.3% from a year earlier, a sharp turnaround from a 5.7% gain in September, official data showed on Monday. Imports dipped 0.7%, from a 0.3% gain in September.

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