Core Insights - China's total import and export value reached 23.6 trillion yuan in the first seven months of the year, marking a year-on-year growth of 10.4% [1] - In July, exports grew by 23.9% year-on-year in RMB terms, the highest growth since March 2021, and by 18% in USD terms [2] - The strong export growth is attributed to improved logistics, robust overseas demand, stable energy costs, and effective foreign trade policies [2][6] Export Performance - Exports to major trading partners such as ASEAN, EU, the US, and South Korea all saw double-digit growth, with ASEAN remaining the largest trading partner [3] - Private enterprises' exports grew by 20.9%, surpassing the overall growth rate of 14.7% [3] - The export of automobiles surged by 54.4%, indicating a significant improvement in export structure [3] Import Recovery - Imports in July increased by 7.4% in RMB terms and 2.3% in USD terms, reflecting a recovery in domestic demand [4] - The rise in imports is linked to the implementation of growth-stabilizing policies and a rebound in sectors like automotive and tourism [4] - Major commodities showed a trend of "volume decrease, price increase," with coal imports down by 18.2% but prices up by 93.2% [4] Future Outlook - Experts anticipate that exports will maintain strong resilience in the third quarter, supported by ongoing demand and improved logistics [5][6] - Domestic demand recovery is expected to further boost import growth, with projections for continued month-on-month improvement [6]