China's trade surplus is about one tenth of the officially reported $61 billion so far this year, after accounting for fake transactions used to channel the so-called "hot money" into mainland

India is inheriting the Chinese worker dividend, and China needs to put India to work just to satisfy its own domestic consumer needs.

Excluding Hong Kong, China registered a growth of 8.5 percent and Export growth to Hong Kong hit 69.2 percent in January-April

China’s industrial output, the key monthly measure of growth, rose 9.3% in April from a year earlier, up from 8.9% in March，but missed market expectations.

The government will cut unnecessary checks and approvals to boost private investment, Li said, as he repeatedly called to streamline government's role in market-friendly reforms.

A quarter of the respondents to May's survey name a hard landing in China and a commodity collapse as their number one "tail risk", an increase from 18 percent in April

The lower-than-expected growth in revenue is mainly due to the tepid GDP growth, the structural tax reduction policy as well as a slowing growth in exports, said the ministry

The reforms could be costly but positive for China's shift towards services and consumption over investment and exports, said Rothman.

The slower growth in January-April, below consensus forecasts, versus 20.9% in January-March, indicates that China’s fiscal spending could have slowed in the month, said ANZ

Details of April trade report and anecdotal evidence have prompted many to believe that China's trade data was significantly inflated by companies fiddling their invoices to bring funds onshore to chase yield.

NBS senior statistician Yu Qiuyu citied a sharp increase in fresh-vegetable prices for the tepid tick-up in headline inflation.

In April, China's trade with the rest of the world gained 12 percent year-on-year, while trade with Hong Kong surged by 55 percent.

Overall, 2012 was said to represent a successful ‘soft landing’ in the reordering of China’s economy, from one marked by over-dependence on investment to one increasingly driven by consumer demand

That being said, the use of Hong Kong entities for holding investments in China is a well-trodden and defined path, and the use of the territory as a springboard into China cannot be bettered.

Export manufacturing moves on while sales-driven structures move in