China’s Trade Surplus Hits Record After Shanghai Reopens

(Bloomberg) — China’s trade surplus hit a record high in June as exports surged following Shanghai’s emergence from a crippling Covid lockdown amid easing outbreaks.

The trade balance climbed to $98 billion last month from $79 billion in May, reaching the highest level in at least three decades. Exports in dollar terms grew 18% in June from a year earlier, beating economists’ estimate of a gain of 12.5%, to reach $331 billion, the second-highest on record after December 2021.