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China's Exports Up 11.2 Pct, Imports Up 14.7 Pct in July
 

China's exports in yuan-denominated terms rose 11.2 percent year on year in July while imports increased 14.7 percent, customs data showed on August .

Monthly trade surplus stood at 321.2 billion yuan ($47.8 billion) in July, up 1.4 percent year on year, according to the GAC.

Total foreign trade reached 2.32 trillion yuan ($345.7 billion) last month, up 12.7 percent from a year earlier.

In the first seven months combined, exports increased 14.4 percent year on year while imports rose 24 percent, resulting in a 14.5-percent decline in trade surplus.

Foreign trade in the first seven months totaled 15.46 trillion yuan ($230.4 billion), up 18.5 percent year on year.

During this period, trade with the EU, China's biggest trade partner, climbed 17.1 percent from a year earlier to 2.33 trillion yuan ($347.2 billion).

Meanwhile, trade with the United States, ASEAN and Japan went up by 20.6 percent, 20.9 percent and 16.9 percent, respectively.

Exports of machinery, electronics and labor-intensive products continued to expand in the first seven months, while the volume of steel exports dropped 28.7 percent year on year to 47.95 million tons.

A leading indicator for China's exports increased from 41.5 to 41.9 month on month in July, signaling positive export potential.

(Xinhua News Agency August 8, 2017)

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