China’s International Trade in Goods and Services Soars 12% in July

China’s international trade in goods and services saw a significant jump in July, reaching a total value of 4.24 trillion yuan, representing a 12% increase year-on-year, according to official data. China’s exports of goods and services reached $317.5 billion in dollar terms, while imports reached $276.4 billion, resulting in a surplus of $41.1 billion. This strong performance was driven by a surge in goods exports, which reached 2.04 trillion yuan, exceeding imports by 431.6 billion yuan. However, the services sector experienced a deficit, with exports reaching 228.8 billion yuan and imports reaching 367.1 billion yuan.