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China's exports beat expectations in June as businesses continued to rush out shipments to capitalize on a temporary tariff reprieve ahead of an August deadline.Exports jumped 5.8% in June in U.S. dollar terms from a year earlier,
External demand continues to support Chinese economic growth, as the first-half trade surplus surged to a new high of $586bn.
Housing market data added to Beijing’s challenge to meet the 5% GDP growth target for 2025. China’s House Price Index fell 3.2% year-on-year in June after dropping 3.5% in May. While the year-on-year trend signaled an improving housing market, other housing sector data painted a gloomier picture.
GDP grew 5.3% in the first half of the year, official data shows, but analysts say maintaining that momentum will be a challenge in the months ahead.
China's export growth likely edged higher in June, buoyed by exporters rushing to front-load shipments on fears that a fragile trade truce with the United States could unravel and see President Donald Trump reinstate extra tariffs on Chinese goods.
U.S. President Donald Trump ratchet up tariffs on Chinese imports to a prohibitive level of 145%, spurring a round of stimulus measures from Beijing.
The world’s second-largest economy has powered ahead despite a 24% slump in shipments to the U.S. in the second quarter.
Chinese state firm employee Zhang Jinming makes up for a 24% cut to his salary by delivering food for three hours every night after work and on weekends - and hopes he can avoid awkward encounters with colleagues.