Chinese trade started 2016 on a weak note as exports in January declined far more than expected in the face of soft demand and slower production ahead of the just-ended Lunar New Year holiday. Exports fell 11.2% year-over-year in January, following a drop of 1.4% in December, the General Administration of Customs reported Monday. The January decline was larger than the median 2.4% forecast from 13 economists surveyed by The Wall Street Journal. Imports last month declined 18.8%, far exceeding December’s 7.6% decline and more than four times the forecast 4.6% decrease. “It’s definitely weaker than the market expected,” said Standard Chartered PLC economist Shuang Ding. “There’s still no improvement from the trade account.” Because imports declined even more than exports, China faced a greater-than-expected $63.29 billion trade surplus in January—a monthly record which followed December’s $60.1 billion surplus. The import drop came despite a sharp jump in imports […]