上海海亮铜业有限公司是一家生产铜产品的民营企业，主要生产空调制冷用无缝铜管等。2024年12月受 出口铜产品取消出口退税政策影响，公司在海外市场发展前景不明。上海海关所属奉贤海关为企业量身 定制"政策服务包"，支持企业运营模式由纯进料加工企业转型为进料、来料并存的复合型加工企业，同 时用好企业集团加工贸易监管模式，通过货物自主存放、集团间自主外发且免担保以及保税货物的合理 串换，实现集团资源深度共享。今年前7个月，上海海亮进出口58.21亿元，同比增长76.32%。 上海移远通信（603236）技术股份有限公司是一家国家级高新技术企业，主要产品是物联网领域无线通 信模组及天线产品，出口至美国、德国、新加坡等超70个国家和地区。在上海海关的信用培育下，移远 通信今年通过AEO认证，享受减少查验、优先送检、快速通关等守法便利政策，企业拓展海外市场"快 人一步"。企业完成备案后，有27种113项商品享受政策优惠，相关货物通关时间缩短2天左右。 新京报贝壳财经讯(记者俞金旻)8月19日，贝壳财经记者从上海海关获悉，今年前7个月，上海市民营企 业进出口总值达9823.8亿元，同比增长25.5%。其中，出口5357亿元， ...

Core Insights - Brazil's export, import, and trade values for July were $32.3 billion, $25.2 billion, and $57.5 billion respectively, showing year-on-year increases of 4.8%, 8.4%, and 6.3% [1] - From January to July, Brazil's export, import, and trade values reached $198 billion, $161 billion, and $359 billion, with year-on-year growth of 0.1%, 8.3%, and 3.6% respectively, resulting in a trade surplus of $37 billion [1] - Major trading partners for Brazil in the first seven months included China (27.7%), the United States (13.8%), Argentina (5%), and Germany (3.3%), with trade values increasing by 2.9%, 8.4%, 26.2%, and 7.6% respectively [1] Trade with China - In July, Brazil's exports to China amounted to $9.9 billion, a year-on-year decrease of 2.4%, while imports and total trade with China were $6 billion and $15.9 billion, reflecting increases of 8% and 1.3% respectively [1] - From January to July, Brazil's exports to China totaled $57.6 billion, down 6.7%, accounting for 29.1% of Brazil's total exports; imports were $41.7 billion, up 20%, making up 25.9% of total imports; total trade reached $99.3 billion, a 2.9% increase, representing 27.7% of total trade [1] - The trade surplus with China during this period was $16 billion, constituting 43.2% of Brazil's overall trade surplus [1] Key Exports and Imports - Major exports from Brazil to China included soybeans (39.7% of exports to China), crude oil (19.7%), and iron ore (17.4%), which saw declines of 4.9%, 12.7%, and 15.6% respectively [1] - Conversely, beef (7.1%), pulp (5%), and sugar (1.6%) exports to China increased by 34%, 18.6%, and 35.4% respectively [1] - Imports of passenger cars from China, which accounted for 5% of Brazil's imports from China, decreased by 20.6% [1]

Group 1 - Shandong Province's import and export volume reached 2.04 trillion yuan in the first seven months of the year, a year-on-year increase of 7.3% [1] - Exports amounted to 1.24 trillion yuan, growing by 6.6%, while imports were 793.2 billion yuan, increasing by 8.5% [1] - Shandong ranked first in import and export growth among the top five foreign trade provinces [1] Group 2 - Private enterprises in Shandong accounted for 1.55 trillion yuan in imports and exports, a year-on-year increase of 8.5%, representing 75.9% of the total [1] - State-owned enterprises had imports and exports of 183.43 billion yuan, growing by 12.2%, making up 9% of the total [1] Group 3 - Shandong's exports of mechanical and electrical products reached 599.03 billion yuan, a year-on-year increase of 10.7%, constituting 48.2% of total exports [2] - Key export items included auto parts at 84.4 billion yuan (up 1.7%), game consoles at 40.89 billion yuan (up 78.7%), and electronic components at 36.06 billion yuan (up 12.1%) [2] Group 4 - Shandong imported 63.83 million tons of crude oil, a year-on-year increase of 30.6%, valued at 238.02 billion yuan, up 15.9% [2] - The import of metal ores reached 15 million tons, increasing by 19.9%, valued at 157.18 billion yuan, a growth of 27.5% [2] Group 5 - Shandong listed companies are accelerating overseas investment, with firms like Sailun Tire and Linglong Tire announcing overseas investment plans [3] - The provincial government has encouraged foreign investment in listed companies through the "Shandong Province 2025 Action Plan for Stabilizing Foreign Investment" [3] - The trend in overseas investment is characterized by regional diversification and capital collaboration, focusing on traditional industries and high-end manufacturing [3]

Export Performance - In July 2025, China's exports increased by 7.2% year-on-year, up from 5.9% in the previous month, exceeding market expectations of 5.8%[1] - The trade surplus for July was $98.245 billion, down from $114.751 billion in the previous month[1] - Exports to non-US countries showed strong growth, particularly to the EU, Australia, Africa, and Latin America, while exports to the US declined by approximately 5.5 percentage points to -21.7%[2] Import Dynamics - Imports in July 2025 rose by 4.1% year-on-year, significantly higher than the previous month's growth of 1.1% and market expectations of 0.3%[1] - The contribution of integrated circuits and high-tech products to overall import growth was approximately 4.3 percentage points[3] - Imports from Africa, Latin America, and India increased, while imports from Europe and the US fell by 2.0 and 3.3 percentage points, respectively, to -1.6% and -18.9%[3] Future Outlook - Export growth is expected to moderate due to high inventory levels and interest rates in the US, which will likely suppress demand[4] - The recent increase in tariffs by the Trump administration on certain countries adds uncertainty to the export environment[4] - Export pressures are anticipated to become more evident by the end of Q3 2025, although the overall slowdown is expected to be manageable[4] Risks - Geopolitical risks may elevate global trade uncertainties, impacting market risk appetite[6] - Unexpected changes in economic conditions or policies could lead to adjustments in related policies, especially given the current economic transition phase domestically[6]

Export Data - In July 2025, China's exports increased by 7.2% year-on-year, reaching $321.78 billion, surpassing the expected growth of 5.8%[2][3] - The cumulative export growth from January to July 2025 was 6.1%, while imports decreased by 2.7%, resulting in a trade surplus of $68.35 billion[2][3] - High-value products such as integrated circuits (20.5%), automobiles (9.7%), and ships (15.5%) showed strong export growth, with integrated circuits and automobiles increasing by 1.6 and 1.5 percentage points respectively compared to the previous month[11][14] Import Data - In July 2025, imports grew by 4.1% year-on-year, reaching $223.54 billion, marking the highest growth rate of the year[9] - The cumulative import growth from January to July 2025 showed a decline of 2.7%, but the July figure was higher than the levels seen in the same month over the past three years[9][11] - Key imports such as copper ore (17.3%) and integrated circuits (8.0%) maintained rapid growth, indicating a recovery in import structure[11][14] Market Trends - The trade surplus in July 2025 was $98.24 billion, reflecting a strong export performance despite ongoing uncertainties in external demand[2][3] - Emerging markets, particularly ASEAN and India, showed significant growth in exports, with ASEAN exports increasing by 13.5% and India by 13.4%[14][17] - The report highlights the dual challenges of fluctuating U.S. tariff policies and the need for China to stabilize its export base through emerging market expansion and policy support[17][20]

Group 1: Export Performance - In July, China's exports maintained a year-on-year growth rate of 7.2%, an increase of 1.3 percentage points from the previous month[2] - From January to July, exports grew by 6.1% year-on-year in USD terms, accelerating by 0.2 percentage points compared to the first half of the year[2] - The trade surplus for the first seven months reached $683.51 billion, with a surplus of ¥49,126.2 billion in RMB terms[2] Group 2: Import Trends - Imports decreased by 2.7% year-on-year in USD terms, but the decline narrowed by 1.1 percentage points compared to the first half of the year[2] - In July, imports increased by 4.1% month-on-month, indicating a recovery in domestic demand[2] - The total import value from January to July showed a year-on-year decline of 1.6% in RMB terms, with a narrowing decline of 1.1 percentage points compared to the first half[2] Group 3: Regional Contributions - ASEAN and EU contributed positively to July's export growth, with contributions of 2.6 and 1.4 percentage points, respectively[2] - Exports to the US saw a significant decline of 21.7% year-on-year, worsening by 5.5 percentage points from the previous month[2] - The total trade volume with ASEAN in July was $86.03 billion, accounting for 15.8% of total trade, while trade with the EU was $74.55 billion, making up 13.7%[2] Group 4: Product Performance - Mechanical and electrical products maintained export advantages, with integrated circuits, ships, and general machinery growing by 20.5%, 15.5%, and 13.5% year-on-year, respectively[2] - Some light industrial products like bags and furniture showed improved export growth compared to the first half of the year, although still below overall export growth levels[2] - Textile, clothing, and footwear exports saw a decline in growth compared to June, indicating potential challenges in these sectors[2]

Export Data - In July, China's exports reached $321.78 billion, a year-on-year increase of 7.2%[2] - From January to July, total exports amounted to $2,130.36 billion, growing by 6.1% year-on-year[2] - Exports to ASEAN increased by 16.6% year-on-year in July, while exports to the US fell by 21.7%[3] Import Data - In July, imports totaled $223.54 billion, reflecting a year-on-year growth of 4.1%[11] - From January to July, imports showed a year-on-year increase of 4.7%[12] - High-tech product imports grew by 7.8% year-on-year in July, despite a decline in certain categories like LCD modules[12] Product Performance - Machinery and high-tech product exports saw a slight decline, with machinery exports growing by 8.0% year-on-year in July[8] - Energy and heavy chemical product exports showed significant improvement, with fertilizer exports soaring by 134.6% year-on-year in July[11] - Light industry product exports were mixed, with categories like toys and bags showing declines of 3.3% and 10.0% respectively in July[10] Market Outlook - The export growth rate in July indicates strong resilience, with expectations for August exports to remain stable[4][14] - Potential risks include geopolitical tensions and economic downturns in Europe and the US, which could impact future export performance[14]

Export Performance - From January to July 2025, China's exports increased by 6.1% year-on-year in USD terms, with a trade surplus of $683.51 billion[1] - In July 2025, exports grew by 7.2% year-on-year, while imports rose by 4.1%, leading to a monthly trade surplus of $98.24 billion[1] - ASEAN and EU contributed positively to July's export growth, with contributions of 2.6 and 1.4 percentage points, respectively[1] Import Trends - From January to July 2025, imports decreased by 2.7% year-on-year, but the decline was less severe than in the first half of the year[1] - In July 2025, imports showed a month-on-month increase of 1.8%, indicating a slight recovery in domestic demand[1] - Key imported raw materials like oil, black metals, and copper showed improved year-on-year performance, suggesting a recovery in manufacturing and infrastructure investment[1] Sector-Specific Insights - Mechanical and electrical products maintained export advantages, with integrated circuits, ships, and general machinery showing year-on-year growth rates of 20.5%, 15.5%, and 13.5%, respectively[1] - Light industrial products like bags and furniture saw improved export growth, although overall performance remained below the average export growth rate[1] - The automotive sector continued to show positive growth despite high export baselines in recent years[1] Economic Context - The resilience in export growth is attributed to ongoing US-China trade talks and improvements in the prices of certain export goods, which helped offset declines in export volumes[1] - Risks include the potential for increased economic recession in Europe and the US, as well as a complex international situation[1]

Export Performance - In July 2025, China's total export value reached $321.8 billion, a year-on-year increase of 7.2%, exceeding market expectations of 5.79%[1] - Exports to economies excluding the U.S. increased by 3.0 percentage points to 12.6%, contributing 2.5 percentage points to the overall export growth[1] - Key regions driving export growth included Latin America (+0.8 pct), South Korea (+0.5 pct), and Taiwan (+0.4 pct)[1] U.S. Export Trends - Exports to the U.S. fell by 21.6% year-on-year in July, a decline of 5.6 percentage points compared to June, impacting overall exports by 3.3 percentage points[2] - Container shipping rates to the U.S. dropped approximately 28% in the last week of July compared to the last week of June, indicating a slowdown in trade[2] - The expected monthly export range to the U.S. is projected between $35.8 billion and $38.2 billion, with year-on-year growth unlikely to return to positive figures[2] Regional Export Dynamics - South Korea's exports grew by 5.9% in July, the highest rate this year, driven by semiconductor exports which rose by 31.6%[3] - Vietnam maintained a high export growth rate of 17.7% in July, with exports to the U.S. increasing by 26%[3] - The export growth of labor-intensive products, machinery, and high-tech products showed varying degrees of slowdown, with labor-intensive products declining to -0.6%[4] Import Trends - Total imports in July reached $223.5 billion, a year-on-year increase of 4.3%, up 3 percentage points from June[4] - Significant contributors to import growth included bulk commodities, pharmaceuticals, and agricultural products, with increases of 1.6, 0.5, and 0.3 percentage points respectively[4] - The import of crude oil and copper ore saw notable rebounds, while iron ore imports fell by 8.8%[4] Future Outlook - China's export resilience is expected to continue, with positive year-on-year growth anticipated from August to October 2025, despite potential short-term declines in November and December due to high base effects[6] - The recent increase in U.S. tariffs may further impact global trade dynamics, with uncertainties surrounding the U.S. economic outlook and potential tariff expansions to other economies[6]

Export Performance - In July, China's export year-on-year growth rate recorded 7.2%, an increase of 1.3 percentage points from the previous month, but the month-on-month growth rate is below the median of the past five years[3] - The rebound in export growth is primarily due to a lower base from the same period last year, while the month-on-month growth rate remains below the five-year median[6] - Exports to the US have decreased, but support from European recovery and deepening cooperation with Latin America and Africa has bolstered exports[7] Import Performance - China's import year-on-year growth rate in July exceeded expectations at 4.1%, up 3 percentage points from the previous month, with month-on-month growth significantly above the five-year average[3] - The increase in imports is driven by continuous domestic production expansion and a notable drop in commodity prices from June, stimulating higher imports of energy and industrial raw materials[6] - Specific imports such as copper saw significant increases, with copper ore rising by 33.1% and unwrought copper by 11.3%[16] Economic Outlook - Despite a downward trend in export centrality, the contribution to economic growth is expected to remain stable, supported by European fiscal expansion and potential unexpected rate cuts by the Federal Reserve[4] - Risks include potential underperformance in domestic economic recovery, unexpected declines in demand from developed countries, and uncertainties in import-export policies[23]