New bank lending in China rose less than expected in May after hitting a nine-month low in April, as companies and consumers remained cautious about taking on more debt despite interest rate cuts and a trade truce between Beijing and Washington.

Global electric and hybrid vehicle sales surged 24% in May—driven by China's domestic and international boom—while North America lagged amid policy rollbacks.

China has reported its exports rose 4.8% in May from a year earlier, lower than expected as shipments to the United States fell nearly 10%

Chinese banks extended 620 billion yuan ($86.34 billion) in new loans in May, rising from the previous month as reassuring monetary measures and a trade truce achieved between Beijing and Washington in mid-May boosted borrowers' confidence.