Global media attention: Robust foreign trade growth underscores China's economic resilience

Deep News
Aug 08

Data released by the General Administration of Customs on August 7 shows that China's foreign trade imports and exports maintained strong growth in July. The total value of imports and exports exceeded 4 trillion yuan for five consecutive months, a year-on-year increase of 19.2%, with exports up 17.8% and imports up 21.2%. Multiple foreign media outlets have noted that China's strong export growth is driven by robust global demand for high-tech products, while also highlighting the resilience of the Chinese economy.

A report from the Financial Times stated that official data from the General Administration of Customs on the 7th showed that China's exports in July grew by 23.9% year-on-year in dollar terms. Among them, driven by the global boom in artificial intelligence infrastructure construction, exports of technology products showed strong growth momentum. The article, citing China Customs data, pointed out that in July, exports of electronic integrated circuits doubled year-on-year, reaching $38.7 billion, setting a new monthly record and accounting for nearly 10% of total exports for the month. The article indicated that the strong growth in China's July exports is the latest in a series of months of significant increases, highlighting the strong resilience of China's trade engine and the robust global demand for high-tech products.

An article from CNBC stated that, driven by a surge in exports of AI-related products, China's export growth in July exceeded expectations. The article said that China's exports in July, measured in dollars, grew by 23.9% year-on-year, surpassing media expectations. The article added that, thanks to the global construction of AI infrastructure, the world's second-largest economy has withstood geopolitical shocks and maintained its momentum for economic growth.

A report from Bloomberg, citing a Bloomberg Economics research report, stated, "The strong growth in imports and exports in July highlights the strengths of the tech-related manufacturing sector... We expect this trend to continue, with tech-related industries maintaining strong momentum and supporting overall exports."

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