Chinas export growth rate in July exceeds expectations to provide support for th

China's export growth rate in July was faster than expected, breaking the expectations of the weakening of global demand for trade constituent, and also provided support for the Chinese economy, which has a crown disease and a downturn in the real estate market.

According to Bloomberg report, the data released by the General Administration of Customs on Sunday (August 7) shows that the export of US dollars in July increased by 18 % year -on -year to 332.96 billion US dollars (about S $ 460.1 billion), Higher than Bloomberg's survey of 14.1 % of the estimated median value; in June, exports increased by 17.9 % year -on -year.

In July, imports were 2.3 % year -on -year, and the estimated median value below 4 % was increased by 1 % in June.The trade surplus in July was US $ 10126 billion.

Bloomberg quoted Zhang Zhiwei, president and chief economist of Pinpoint Asset Management, said: "China's export growth is again surprising. Strong export growth continues to help the Chinese economy because domestic demand is still sluggish."

Zhang Zhiwei also said that China's export growth is unexpectedly strong. "It helps to increase confidence in the exchange rate of the RMB, and then help curb capital outflows."

During the crown disease epidemic, exports have always been an important factor in China's economic growth.However, external uncertainty rises, including the slowdown of global economic slowdown and high inflation within developed countries, all show that the contribution of exports to the economy will be weakened this year, which makes the Chinese economic situation that has been under tremendous pressure.

According to reports, with the relaxation of the epidemic prevention and control and further alleviating the bottleneck of production and logistics, the Chinese economy continued to rebound in July.However, recovery is still fragile, and has been dragged down by domestic demand and new epidemic from the dilemma of the real estate industry.

The Chinese official set a target of about 5.5 % of the annual economy at the beginning of this year, but the GDP (GDP) in the first half of the year last month increased by only 2.5 % year -on -year. Economists generally believe that China is hopelessRealize the annual economic growth goals.