China’s exports jump 25% in August in boost from AI build-out
Strong demand for autos and high-tech goods lifted exports, while imports missed forecasts and the trade surplus widened to $119.1 billion, customs data showed.
- On Tuesday, China reported a 25% surge in August exports, pushing the country's trade surplus to $119.09 billion.
- Exports have become China's primary growth driver, cushioning the impact of sluggish domestic demand and a property market downturn, with policymakers targeting 4.5-5% annual growth.
- Western trading partners, including the United States, have criticized China's export reliance, though People's Bank of China Governor Pan Gongsheng dismissed complaints as 'an excuse to pressure and restrict China.'
- Premier Li Qiang called for expanded international cooperation in August while acknowledging domestic hardships, as the government deployed an 800 billion yuan financing tool to bolster infrastructure.
- Ahead of a high-stakes visit by Chinese leader Xi Jinping to Washington D.C. later this month, Washington and Beijing are exploring reciprocal tariff cuts on $30 billion worth of goods.
19 Articles
19 Articles
China says imports and exports surged in August
BEIJING: China's imports and exports surged in August, official data showed on Tuesday (Sep 8), helped by a global AI buildout that has fuelled demand for the country's technology products.Exports spiked 25 per cent year-on-year, the General Administration of Customs (GAC) said, accelerating slightly from Jul
Associated Press News
China's exports pick up in August, jumping 25% on strong demand for autos and high tech goods
China has reported that its exports accelerated in August, jumping 25% from a year earlier on strong demand for autos and high-tech goods, its customs agency said Tuesday.
China's exports gained momentum in August and continued to be a major pillar of the world's second-largest economy. External sales grew 25.0% compared to the same month of the previous year, above the 23.9% increase recorded in July and also above market expectations, which pointed to an advance of 23.8%. Exclusive content for subscribers. For full access, follow the link to the article and register.
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