The nation's exports beat expectations in July, remaining a key pillar of ⁠economic growth for the manufacturing powerhouse, as the global AI infrastructure buildout continued to power demand for high-tech goods.

Exports expanded 23.9 percent year on year in US dollar terms, General Administration of Customs data showed on Friday, slowing from a 27 percent surge the previous month and compared with a 22.2 percent rise forecast in a poll.

Imports were up 27.5 percent from ⁠July last year, slowing from the 36 percent jump in June.

In yuan-denominated terms, foreign trade grew 19.2 percent.

Exports of semiconductors almost doubled in US dollar value terms from last year, and overall high-tech products exports expanded 40.7 percent.

In a meeting late last month, the nation's top decision-makers called for a faster transition from old growth drivers to new ones, signalling priority on high-tech sectors.

The economy grew 4.7 percent in the ⁠first half, keeping it broadly on track to meet Beijing's official full-year growth target of 4.5 to 5 percent, but growth slowed to 4.3 percent in the second quarter as weaker consumption and investment clouded strong manufacturing and exports.

The trade surplus narrowed to US$112.5 billion from US$125.62 billion in June.

The European Union has been weighing tougher measures to curb its trade deficit with China, while ⁠Beijing's ties with Washington have shown signs of strain as they hit each other with trade restrictions and other measures ahead of an expected leaders' summit in September.

Exports to the United States rose 17 percent as their value hit US$41.9 billion, up from US$35.8 billion a year ago.

Exports of rare earths extended a decline for a second ⁠straight month, down 17.3 percent from June, as a summer lull dented overseas demand.

The world's largest rare earth producer shipped out 4,224 tonnes of the ⁠group of 17 minerals ⁠essential to electric vehicles, ⁠wind turbines and defence technology.

That was the lowest level for a single month since ⁠March, and was also 29.5 percent lower than 5,994 tonnes shipped out in July 2025. (Agencies)


Edited by Aaron Tam