China trade surplus hits a record in July

Beijing

CHINA's monthly trade surplus leaped to US$47.3 billion in July, nearly tripling year-on-year, official data showed yesterday, as exports from the world's second-largest economy jumped while imports surprisingly declined.

The figure is believed to be a record for any month.

Exports increased 14.5 per cent year-on-year to US$212.9 billion, the General Administration of Customs announced, while imports decreased 1.6 per cent to US$165.6 billion.

The surplus, which compared with one of US$17.8 billion during the same month last year, far exceeded the median forecast of US$27.7 billion i…