CHINA

$1.28-Billion Trade Deficit Posted: The deficit for the first quarter occurred even though the export growth rate exceeded that of imports for the first time in two years, a state-run newspaper reported. In the first three months of 1994, China exported $19.11 billion worth of goods, up 18.7% from the same period last year. It imported $20.39 billion, up 18.2%, the China Daily said. China last year registered its first trade deficit in four years, $12.8 billion, and experts have warned that another deficit is likely this year.