China's foreign trade remains resilient in July driven by AI exports

China's foreign trade maintained strong momentum in July, though growth moderated from the high level seen in June. AI-related products remained the key driver, with integrated circuits and data processing equipment exports surging due to higher prices amid supply constraints.

Advanced manufacturing sectors, including automobiles and ships, also posted strong export gains, while traditional consumer goods exports remained weak amid soft global demand. On the import side, AI-related intermediate goods continued to expand rapidly, offsetting weaker commodity trends as iron ore, copper ore, and crude oil imports showed signs