BEIJING (AP) \u2014 China\u2019s export growth continued to rise in July, sending trade surplus to a record high, according to government data.<\/p>\n\n\n\n
China\u2019s exports grew 18% to $333 billion compared to the same period last year, and were up from 17.9% in June, according to data from China\u2019s customs.<\/p>\n\n\n\n
Imports, however, remained soft, growing 2.3% in July compared to a year ago. That was lower that economists\u2019 estimates of 4%, and suggests weak domestic demand amid lockdowns across the country as China attempts to stem the outbreak of COVID-19.<\/p>\n\n\n\n
China\u2019s total trade surplus reached an all-time high of $101.3 billion in July, breaking the record set in June.<\/p>\n\n\n\n
The country\u2019s economy has rebounded from earlier in the year, when tough COVID-19 restrictions including a two-month lockdown in Shanghai and other measures across China disrupted manufacturing and logistics.<\/p>\n\n\n\n
While manufacturing and supply chain issues have eased, recovery may be affected by fresh COVID-19 outbreaks, weak domestic demand and external uncertainties such as rising inflation in developed countries including Britain and the U.S.<\/p>\n\n\n\n
The International Monetary Fund in July predicted that China\u2019s economy would grow 3.3% this year, below the ruling Communist Party\u2019s target of 5.5% set in April.<\/p>\n","protected":false},"excerpt":{"rendered":"
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