Foreign media: A survey shows that China's export growth is expected to slow down to 22.2% year-on-year in July, down from 27% in June, yet still remains strong; import growth is forecast to decline from 36% to 27.9%, and the trade surplus is expected to narrow from $125.62 billion to $107 billion. The resilience of exports is mainly driven by strong global demand for AI-related goods, as well as advance shipments by Chinese and U.S. firms ahead of new U.S. tariffs—on July 24, the U.S. temporarily raised China’s import tariffs from 10% to 12.5%, and further tariff hikes are possible due to an ongoing investigation into overcapacity.
However, extreme weather such as typhoons may weaken port throughput and shipping volumes in July. Previous data indicated contraction in manufacturing, services, and construction activities in China during July. Although the Political Bureau meeting pledged stronger fiscal spending and monetary policy adjustments, no measures targeting consumer stimulus or structural reforms were introduced.
Original article: toutiao.com/article/1872763166551040/
Disclaimer: This article represents the personal views of the author