April 11, The slowdown in China’s import growth indicates sluggish domestic demand, adding to concern of a hard-landing of the world’s second-largest economy.

Imports in the first 2 months of this year grew only 7.7 percent from the same period a year earlier, while annual growth further declined to 5.3 percent in March, official data show.

Li Huiyong, chief macro economist at Shenyin and Wanguo Securities, said the bigger-than-expected growth slide showed weak domestic demand.

A cloudy future for exports and uncertainties in the property market made enterprises less willing to import, Li said.

China’s soft-landing relies on its domestic demand, Li added.

The import slump was mainly due to price factors as average import prices of iron ore and soybean, China’s major imports, fell over 8.2 percent in the first quarter, said Zhang Yansheng, director of the Institute for International Economics Research of the National Development and Reform Commission.