In the April trade figures released today it is finally possible to get some idea of the underlying strength of Chinese exports as both February and March figures were heavily distorted by the impact of the harsh winter storm in early 2008.The main conclusions are, firstly, that there have not yet been any clear signs of a major slowdown in Chinese export growth and, secondly, that Chinese activity is increasingly getting its strength from domestic demand. It underlines that the Chinese leadership should probably remain more worried about unsustainable growth and inflationary pressure than a possible sharp slowdown in export growth on the back of weaker global growth.