Exports Drive China’s August Trade as Imports Fall Short of Forecasts

China’s August trade data show exports up 25% year-on-year (in line with forecasts) and imports up 28.2% (below the 30% expected), lifting the trade surplus to about $119 billion. Exports remain the main growth engine amid strong AI-related demand, while domestic demand remains tepid. Policymakers are leaning on fiscal stimulus and potential monetary easing to sustain growth, with the yuan modestly firmer after the data release.