China trade surplus soars in May on export boom

China said Thursday its trade surplus soared in May on strong foreign demand for Chinese-made products, which analysts said could increase pressure on Beijing to let its currency strengthen.
The surge in exports -- up 48.5 percent from a year ago -- suggested the eurozone debt crisis had not yet hurt demand for Chinese products, which could ease concerns of a slowdown in the world's third-largest economy.
The data came after US lawmakers on Wednesday vowed to launch legislative action in two weeks to punish China for refusing to revalue the yuan, claiming the currency is undervalued and gives the nation an unfair trade advantage.
China posted a trade surplus of 19.53 billion dollars in May, compared with a surplus of 1.68 billion dollars in April and a deficit in March -- the first in six years, according to data released by customs authorities.