China's Trade +35% July 2021

Following the outbreak of new cases of COVID19, China's imports and exports growth was moderate in July, pointing to a variation in the country's industrial sector in the second half even as easing global lockdowns boost commerce.

According to the General Administration of Customs, China's total imports and exports in dollar terms expanded by 35.1% year on year to $3.3 trillion in the first seven months of 2021.

Data shows that from January to July, China’s exports grew by 35.2% year on year, and imports increased by 34.9% year on year.

In July alone, Chinese exports in dollar terms grew by 19.3% from a year earlier, while the imports rose by 28.1% year on year, both close to Reuters and UBS Bank projections.

In July, the Purchasing Manager Index (PMI) of China's manufacturing industry was 50.4%, a decrease of 0.5 percentage points compared with last month, and continued to be above the threshold, confirming that the manufacturing industry as a whole continued to expand.

The business activity index of non-manufacturing industry was 53.3% in July, slightly lower than the previous month by 0.2 percentage points, and continued to be higher than the threshold, maintaining a stable expansion.