news flash·2025-07-15 00:17Core Viewpoint - China's export resilience in June exceeded expectations, reflecting a slight improvement in export growth in Q2 compared to Q1, driven by the "expedited shipping" effect ahead of the expiration of the "reciprocal tariff" exemption and a recovery in the global manufacturing cycle [1] Group 1: Export Performance - In June, China's exports were supported by short-term "rush export" demand as the deadline for the "reciprocal tariff" exemption approached on July 9 [1] - The overall export growth rate in Q2 showed a slight strengthening, indicating improved competitiveness of Chinese manufacturing [1] Group 2: Import Trends - In June, the year-on-year growth rate of imports in dollar terms increased by 4.5 percentage points from May to 1.1%, primarily driven by improvements in upstream imports and the "de-escalation" of tariffs between the US and China [1] Group 3: Future Outlook - Looking ahead, the "rush export" phenomenon may partially deplete demand, and the upward adjustment of US tariffs could impact imports, leading to a slight decrease in the overall year-on-year export growth rate in Q3 [1] - However, the recent increase in US tariffs on the EU and Mexico may enhance the relative competitiveness of Chinese exports [1]