CX Briefing: Exports Beat Expectations

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

Exports beat expectations: China’s exports showed resilience in July, growing 7.2% year-on-year in dollar terms and beating market expectations, as the grace period on the Trump administration’s “reciprocal tariffs” was expected to approach its end. Strong demand from the European Union, where Chinese exports grew 9.3%, helped offset a deepening slump of 21.6% in shipments to the U.S. Some categories of exports performed better than others for the month. Exports of microchips and machinery rose, but those of labor-intensive goods like clothing and footwear fell. China’s imports rose 4.1%, the fastest pace in a year. The trade surplus for July was $98.2 billion.