China exports rise 23.9% amid AI tech demand

China's exports rose 23.9 percent year on year in July and imports rose 27.5 percent, the General Administration of Customs said Friday, extending a trade boom amid global demand for technology products linked to artificial intelligence.

The export rise was above a 23.0 percent forecast reported by Bloomberg. Import growth slowed from June's 36 percent increase and was below Bloomberg's 29.5 percent forecast.

Customs data showed overseas shipments of computers and related parts jumped 45.2 percent in the first seven months of the year. China's overall trade surplus reached $687 billion through the end of July, after a surplus of nearly $1.2 trillion last year.

Julian Evans-Pritchard of Capital Economics wrote that export and import values remained elevated, helped by global demand for electronics and green technology products.

The surplus has drawn concern abroad, including in Europe, where leaders worry about Chinese exports competing with local manufacturers. Beijing has said it did not deliberately pursue a trade surplus, and the Communist Party's Politburo called late last month for more balanced trade development.

China's shipments to the United States rose 17 percent year on year in July, customs data showed. China's surplus with the United States reached nearly $171 billion through the end of July.

The figures came after a new rise in trade tensions between Beijing and Washington. Following US sanctions over forced labour and national security concerns, China on Wednesday announced restrictions on drone exports to the United States and blacklisted six firms.

China and the United States reached a truce after US President Donald Trump met Chinese President Xi Jinping in October. Xi is scheduled to make a state visit to the United States in late September.