Japanese Media: China's Exports Rise for Ninth Consecutive Month in July
According to reports from Japanese news agency Jiji Press and Reuters (Japanese edition) on August 7: China's exports in July reached $397.8 billion (approximately 6 trillion yen), up 23.9% year-on-year, marking nine consecutive months of growth—exceeding Reuters' forecast of 22.2%.
The trade surplus (exports minus imports) amounted to $112.5 billion, although lower than June’s $125.62 billion, it still maintained a substantial trade surplus for nine straight months, reflecting China’s continued reliance on exports and its economic structure.
The export growth rate slightly narrowed from June’s 27.0%, while imports grew by 27.5% to reach $285.3 billion, slightly below Reuters’ forecast of 27.9%.
Global artificial intelligence (AI) infrastructure development continues to drive demand for Chinese high-tech products. Semiconductor exports nearly doubled compared to last year, and high-tech products as a whole saw a 40.7% increase.
Meanwhile, exports of traditional industrial goods such as ceramic products declined sharply by 28.3%. This illustrates how, despite the surge in exports driven by the AI boom benefiting advanced manufacturing, traditional industries are struggling due to weak demand, highlighting the uneven development within China’s economy.
China’s natural gas imports fell 3% year-on-year from January to July, while crude oil imports dropped 13.2%.
Morgan Stanley analysts stated that as long as exports and manufacturing achieve their annual growth targets, economic regulators will remain patient regarding domestic consumption and the real estate market.
Original article: toutiao.com/article/1872839248862236/
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