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BEIJING, June 10 (Xinhua) -- China's foreign trade growth trumped market forecasts to post double-digit rates in May, boosted by slightly-improved external markets and more working days in the month.

Hong Kong financial institutions will be allowed to set up consumer finance companies in Guangdong, while more efforts will be made to promote investment and financial cooperation between Hong Kong and Shenzhen, the statement said.

China registered 7.1-percent and 7.3-percent growth in foreign trade in March and the January-February period, respectively, and trade in January dropped 7.8 percent year-on-year.

However, sales of commercial vehicles slid 10.4 percent to 1.98 million units, while commercial vehicle output declined 8.6 percent to 1.93 million units, according to the data.

Winds will considerably strengthen starting from Monday afternoon, to a speed of 150 kilometers per hour in waters off Shandong's coast. Downpours are also expected in the Shandong Peninsula.