Foreign media: China's export growth momentum continues. Data released by China's General Administration of Customs on August 7 showed that China's trade surplus in July reached $112.5 billion, exceeding $100 billion for the third consecutive month; exports rose by 23.9% year-on-year in USD terms, while imports grew by 27.5%. Based on current trends, China’s annual trade surplus may surpass the record of $1.19 trillion set in 2025.
External demand has become a key support for manufacturing. Amid increasing capacity pressure and intensified price competition, Chinese enterprises are accelerating their expansion into overseas markets, with notable performance in exports of new energy vehicles, renewable energy products, and AI-related electronic devices. The global surge in AI investment has also driven increased demand for semiconductors and data center equipment.
Meanwhile, the domestic economy still faces pressures from real estate adjustments and weak consumption, with second-quarter economic growth hitting its lowest level in three years. In July, China’s exports to the U.S. rose by 17% year-on-year, indicating certain resilience in bilateral trade. However, recent restrictions on trade and technology cooperation between the two sides have increased in areas such as robotics and drone technologies.
In terms of energy trade, China’s crude oil imports rebounded by 22% compared to June, but remained nearly 25% lower than the same period last year; refined oil exports continued to grow for the fourth consecutive month, reaching a new high for the year.
Original source: toutiao.com/article/1872881842843712/
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