Chinese exports and imports soared in July, official data showed Friday, as the manufacturing powerhouse benefits from a global AI boom lifting overseas demand for its tech products.
The world’s second-largest economy last year achieved a historic trade surplus of nearly $1.2 trillion, helping its manufacturing sector through a prolonged slump in domestic consumption.
The export boom has been propelled further this year by increased demand for Chinese data-processing equipment and related components, as companies rush to build artificial intelligence capacity.
Exports climbed 23.9 percent year-on-year last month, the General Administration of Customs (GAC) reported, compared with a 23.0 percent forecast by Bloomberg.
Overseas shipments of computers and related parts jumped 45.2 percent on year in the first seven months, the data showed.
