HONG KONG - Chinese trade data for June came in much weaker than expected on Wednesday, offering up the latest evidence that the Chinese economy has lost much of its previous vigor. Exports fell 3.1 percent from a year earlier - the first drop since early 2012 - the customs department reported, and imports decreased 0.7 percent, falling for the second month in a row. Both figures were far below the expectations of analysts, who had projected a 4 percent rise in exports and an 8 percent climb in imports. The weak import data underlined slack demand within China. The export slump reflected weak overseas demand, but analysts said it was also partly attributable to a recent government crackdown on false export reporting by companies that had been seeking to bypass currency controls and move money into the country as a way to place a bet on further appreciation of the currency, the renminbi. The strengthening currency and rising wages in China have helped erode the country's competitiveness at a time when demand from export markets like the United States remains lackluster. Growth in China has been cooling for many months as the new leadership in Beijing seeks to shift the economy away from a credit-driven and increasingly outdated growth model. Aware of the limits of these growth drivers, China is now seeking to foster more domestic demand and raise productivity. Policy makers have also been seeking to rein in the rapid credit growth that has built up in recent years.