China's export, import growth weaken in July

China's trade growth weakened in July in a negative sign for the country's economic growth and global demand.

Customs data on Tuesday showed growth in exports decelerated to 7.2 percent from June's 11.3 percent. Imports rose 11 percent, down from the previous month's 17.2 percent.

Forecasters have warned Chinese economic growth is likely to slow this year, dampening demand for foreign goods, as controls imposed on bank lending to slow a rise in debt take hold.