Customs data showed Saturday that Chinese exports rose 18.9% over a year earlier to $282.7 billion. On the other hand, imports rose 28.7% to $227.1 billion, decreasing from June’s 36.7% expansion.
ANZ Research Asia senior strategist Irene Cheung noted this week that there had been a “rebound in port activities” following the previous disruption, warning that the Delta variant could stunt growth.
Chinese imports have remained strong in 2021, caused by the surge in COVID-19 cases and the need for medical equipment and electronics required for working from home.
China’s economic activity has nearly returned to normal in the country due to the strict lockdowns and wide-scope testing. China is currently re-implementing strict measures to contain the Delta variant, with the authorities detecting cases in over 10 provinces.
China’s global trade surplus rose by 9.1% from June to $56.6 billion in July.
The PRC is controlling price hikes for most basic commodities, which are putting pressure on smaller companies.
Natural disasters, which included heavy rain and floods in China’s central Hunan province, have taken a toll on China’s economic growth. This leads the Chinese authorities to take stricter measures against the highly polluting real estate sector, as well as other industries.