CHINA

Trade Deficit Narrows: A surge in exports reduced the trade deficit for the first five months of the year to $1.79 billion from $3.07 billion a year earlier, major Chinese newspapers reported Friday. Exports during the period soared 24.1% to $37.49 billion, and imports rose 18.1% to $39.28 billion, the official China Daily said, citing a Customs Administration report. By the end of May, the deficit was $1.27 billion less at than at that point last year, the paper said.