CX Briefing: Exports Beat Expectations

A rundown of the news making headlines in and around China:

Exports surge: Chinese exports beat expectations in June, as the decline in shipments to the U.S. narrowed, showing that high-level talks between Washington and Beijing may be having an effect. Exports in dollar terms were up 5.8% year-on-year, up from 4.8% in May and exceeding the 4.2% average forecast from economists surveyed by Caixin. Meanwhile, imports grew 1.1%, compared to a 3.4% decline the month before. Markets will be watching whether the improvement in China-U.S. trade — with Chinese shipments to the U.S. declining by only 16% in June — will develop into a durable truce following the so-called “London Framework” deal struck by the two sides.