Trade balance data from China for July, this the 'yuan terms' (USD terms should be coming soon)

China trade balance for July: CNy 321.2 bn. A beat for the surplus

  • expected CNY293.55bn, prior was CNY 294.30bn

Exports y/y: +11.2%. A miss on exports

  • expected +14.8%, prior was +17.3%

Imports y/y: +14.7%. And a miss on imports

  • expected +22.6%, prior was +23.1%

For the January to July period:

  • Trade surplus of 1.6tln yuan
  • Exports +14.4% y/y in yuan
  • Imports +24% in yuan