With China experiencing economic slowdown, the exports as well as import records registers disappointing figures in the first quarter, could it be time to press the panic button for the Asian economy?

The investors in China were hopeful that the economy would bounce back with a bang; however, all these hopes were washed down the drain when the recently revealed exports and imports figures of the Chinese economy dived deeper. According to reports on CNBC , the export numbers fell by a massive 6.4 percent, which is almost three times the figure that was quoted in a recent poll conducted by the Reuters. As for the imports, the numbers here were also not very encouraging. The import figures went down by 16.2 percent while the expected drop was being touted at 12%.

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The lack of trade in the Chinese economy affected its surplus figures as well. As opposed to the forecasted figure of 39.45 billion dollars, China could register a surplus of only 34.13 billion dollars. The slump in figures is indicating the need to rework the legal framework to allow more leeway in order to encourage foreign investors. With this, April became the third consecutive month in which the numbers of Chinese economy registered a dismal performance.

China is regarded as the world's second largest economy and had emerged as a reliable trade partner for several countries across the world; however, the recent economic recessionary phase is now emerging as a major cause of concern for investors across the globe.

Trade experts believe that the dampening of demand, both on the external as well as internal front, has led to the fall of Chinese economy. But, they are also hopeful that this trend is not going to last long and soon the purchasing power is expected to become stronger.

Meanwhile, the reports on WSJ indicate that the Chinese leadership is also under pressure to take measures that boost the economy and help in combating the slowdown. 

TagsChina Finance News, China exports and imports, China financial news, Chinese economy slowdown