China’s Exports Surge More Than Expected in Economic Boost

00:00

00:00/00:00

Listen to this article 1x

China’s government is relying on sales abroad to offset weak consumer spending at home, where a real estate slump has led households to tighten their belts. Photo: Bloomberg

(Bloomberg) — China’s exports climbed more than expected in May, boosting hopes that the world’s second-biggest economy can maintain its momentum by relying on foreign markets even in the face of new tariff threats.

Exports rose 7.6% in dollar terms from a year earlier, while imports increased 1.8%, the customs administration said Friday. That left a trade surplus of almost $83 billion for the month. Economists had forecast that exports would expand by 5.7% and imports by 4.3%.

You've accessed an article available only to subscribers

Subscribe today for just $.99.

VIEW OPTIONS

Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.

Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.

Share this article

Open WeChat and scan the QR code

DIGEST HUB

Digest Hub

Back

Explore the story in 30 seconds

China's exports rose 7.6% in May versus an expected 5.7%, while imports grew 1.8%, resulting in a nearly $83 billion trade surplus.
Beijing's export strategy compensates for weak domestic spending and a real estate slump; South Korea also saw record exports.
Despite strong performance, Chinese firms face barriers in high-tech exports and potential new tariffs, though this hasn’t yet impacted auto exports significantly.

AI generated, for reference only

Who’s Who

Jones Lang LaSalle Inc.: Jones Lang LaSalle Inc. (JLL) is a professional services firm specializing in real estate and investment management. In the article, Bruce Pang, the chief economist for Greater China at JLL, commented on China's competitive goods gaining a larger global market share and the continuing momentum of its export sector, supported by a strong dollar and price cuts by exporters.

AI generated, for reference only

What Happened When

Late 2022：: Iron and steel export prices have been falling since late 2022.

April 2024：: China's auto exports reached $10.7 billion, the highest on record.

May 2024：: China’s exports climbed more than expected.

May 2024：: South Korean exports hit the highest level in almost two years, led by semiconductor sales.

May 2024：: China's auto exports in May were the second-highest on record, slightly down from April 2024’s $10.7 billion.

Friday, June 7, 2024：: China's customs administration reported that exports rose 7.6% in dollar terms from a year earlier, while imports increased 1.8%.

By the midday break on June 7, 2024：: The onshore benchmark CSI 300 Index lost 0.7%, while a gauge of Chinese stocks listed in Hong Kong was down as much as 0.9%.

AI generated, for reference only