China trade surplus sets record at $101 bn as exports beat expectations

Coming amid waning global demand, this is the highest since 1987

China’s trade surplus rose to a record as exports grew faster than expected, easing some concerns over waning global demand and providing support for an economy battling sporadic Covid outbreaks and property woes.

The nation’s trade balance climbed to about $101 billion in July, surpassing the previous record set in June, according to government figures released Sunday. That’s the highest in data compiled since 1987. Exports in dollar terms grew 18% from a year earlier, beating economists’ estimates for a 14.1% gain.

“The strong export growth continues to help China’s economy in a difficult year as domestic demand remains sluggish,” said Zhang