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