The foreign trade data released by the General Administration of Customs of China on the 14th showed that my country’s import and export data in June performed strongly, attracting the attention of many foreign media.

European News TV’s report quoted Julian Evans-Pritchard, chief economist of Capital Economics China, as saying that China’s trade volume rose sharply again in June, mainly due to the recent surge in semiconductor prices driven by the artificial intelligence boom.Evans-Pritchard emphasized that even excluding this factor, overseas demand for Chinese goods is still strong.

Screenshot of a report on the Euronews website

The report stated that with the rapid popularization of artificial intelligence, the market demand for semiconductors and other electronic equipment has increased, and the export of Chinese cars, especially electric cars, and the export of other technology products have achieved substantial growth.

Bloomberg reported that China’s domestic factories are gradually establishing competitive advantages in high-end industries.The report emphasized that China’s exports in June increased by 27% year-on-year, driven by the global artificial intelligence investment super cycle.At the same time, China’s import growth in June also far exceeded expectations, with a year-on-year increase of 36%, a five-year high.

Bloomberg estimates show that China’s exports are stronger than expected and are expanding from artificial intelligence-related products to more categories.According to reports, the automobile industry is a typical example.Against the backdrop of continued high international oil prices, China's automobile exports exceeded 1 million units in a single month for the first time.Exports of other categories, such as ships and home appliances, also achieved rapid growth.

Screenshot of Bloomberg report

Bloomberg report believes that China’s foreign trade performance is expected to continue to improve, supported by the growing global demand for artificial intelligence infrastructure and high-end electronic products.

The US Consumer News and Business Channel reported that China’s trade growth in June significantly exceeded market expectations, thanks to strong global demand for artificial intelligence hardware.

Screenshot of a report from the U.S. Consumer News and Business Channel

Reuters quoted a senior economist from the Economist Intelligence Unit (EIU) as saying that China's continued strength in exports is mainly driven by the artificial intelligence track, which indicates a positive situation in the second half of the year.A more expansionary policy mix, accelerated fiscal spending, and moderate monetary easing will all support the Chinese economy.

Source | CCTV Global News

Compiled | Du Huiqin

Signed and reviewed | Yan Ming

Producer | Zou Haoyu