China's Jan-July Imports Jump 22% and Outpace Exports for 5 Straight Months

2 articles · Updated · bastillepost.com · Aug 22

12.69 trillion yuan in goods imports from January to July marked a 22% year-on-year rise, 8 percentage points faster than export growth and extending a five-month run of imports outpacing exports.
Raw materials, components and consumer goods drove the increase: first-half metal ore imports rose 22.6%, while mechanical and electrical products made up more than 40% of total imports in the first seven months.
Trade-opening measures added momentum. China signed six APEC-related customs agreements in Dalian, expanded agricultural and food import sources to more than 150 countries and is preparing a Nov. 5-11 import expo with 1,300-plus companies from 104 countries.
Zero-tariff access also widened demand from developing exporters: imports from Africa rose 23.5% to 193.8 billion yuan in the two months after China extended the policy to all 53 African diplomatic partners on May 1.
Economists said the import strength reinforces China's role as both a major buyer of intermediate goods and a buffer for global trade, supporting Asian exporters and broader supply-chain stability.