EBSCN·2025-08-07 13:16Export Performance - In July 2025, China's exports reached $321.78 billion, a year-on-year increase of 7.2%, surpassing the expected growth of 5.8%[1] - Exports to ASEAN, Africa, and Latin America grew by 16.6%, 42.4%, and 7.7% respectively, while the share of exports to the US fell to 11.1%[3] - The "export grabbing" and "transshipment grabbing" effects continue to support exports, particularly to non-US economies[2] Import Trends - Imports in July 2025 totaled $223.54 billion, with a year-on-year growth of 4.1%, exceeding the expected 0.3%[1] - The increase in imports is driven by domestic demand and policies related to "two heavies" and "two news" initiatives[20] - Key imports such as copper ore and crude oil saw significant increases, with copper imports rising by 26.4% year-on-year[20] Trade Balance - The trade surplus for July 2025 was $98.24 billion, down from $114.77 billion in the previous month[1] - The decline in trade surplus reflects the combined effects of rising imports and fluctuating export growth rates[1] Future Outlook - Short-term export growth may face downward pressure as the "export grabbing" effects diminish, particularly following the implementation of new tariffs by the US[22] - Long-term, global trade growth is expected to slow, which may put additional pressure on China's exports, emphasizing the need to strengthen trade with non-US regions, especially emerging markets[23]