The stronger-than-expected trade performance suggests mainland manufacturers continued to sustain sales despite slowing growth in major economies and uncertainty over trade relations with Washington.
Strong demand for AI-related technology products, front-loading of US-bound shipments and aggressive pricing by mainland exporters helped support overseas sales.
Yuan-denominated exports rose 20.8 percent year-on-year in June while imports grew 29.4 percent, data from the General Administration of Customs showed on Tuesday, while exports grew 16.9 percent in the first half.
In US dollar terms, exports climbed 27 percent, their best performance in four months, outpacing the 19.4 percent gain in April and an 18.2 rise forecast by economists.
Imports jumped 36 percent, compared with a 27.4 percent gain a month prior, a five-year high. Economists had forecast growth of 24 percent for June.
Separate manufacturing activity data for June, released late last month, showed overseas demand was beginning to recover, but factory-gate prices continued to fall as companies cut prices to win business from customers squeezed by higher energy costs linked to the Iran conflict.
Chinese exporters got a boost as US retailers brought forward orders by four to six weeks to stock up for Black Friday and Christmas sales ahead of expected tariff hikes this year. Uncertainty remains high, however, after US President Donald Trump’s May visit to Beijing failed to deliver the breakthroughs many had hoped for.
China will publish its GDP figure for the second quarter on Wednesday.
The nation’s trade surplus came in at US$125.6 billion in June, up from US$105.4 billion a month prior. (Reuters & Xinhua)
