Foreign media: China's exports grew by 25% year-on-year in August, with growth accelerating compared to July, mainly driven by overseas demand for artificial intelligence, high-tech products, electric vehicles, photovoltaics, and lithium batteries. At the same time, imports rose by 28.2%, expanding the trade surplus to $119.09 billion. The cumulative surplus for the first eight months reached $805.51 billion, and the full-year surplus is expected to exceed $1 trillion for the second consecutive year.
Data shows that exports of high-tech products increased by 42.9% year-on-year in the first eight months. Semiconductor export values saw a significant rise, while both the value and volume of automobile exports grew by over 50%. Investment enthusiasm in the AI industrial chain and technological competition have become key drivers behind manufacturing exports.
However, ongoing property market weakness, along with sluggish consumption and investment growth, means China’s economy remains heavily reliant on external demand. The expanding trade surplus has also drawn concerns from Europe and the U.S. regarding industrial competition and trade imbalances.
Meanwhile, strong export performance has reduced the urgency for large-scale monetary stimulus in the short term, suggesting policy focus may continue shifting toward targeted support for the economy.
Original source: toutiao.com/article/1875760113892416/
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