China's exports and imports surge in July

Chinese exports and imports soared in July, official data showed Friday, as the manufacturing powerhouse benefits from a global AI boom lifting overseas demand for its tech products.

Exports climbed 23.9 percent year-on-year last month, the General Administration of Customs (GAC) reported.

Imports increased 27.5 percent, though that was down from the 36 percent surge seen in June.

The world's second-largest economy last year achieved a historic trade surplus of nearly $1.2 trillion, helping its manufacturing sector through a prolonged slump in domestic consumption.

The export boom has been propelled further this year by increased demand for Chinese data-processing equipment and related components, as companies rush to build artificial intelligence capacity.

Overseas shipments of computers and related parts jumped 45.2 percent on year in the first seven months, the data showed.

The growth has been achieved despite considerable pressure on the global trading system from the war in the Middle East and simmering trade frictions between Beijing and Washington.

China's shipments to the United States rose 17 percent year-on-year last month, the data showed, as the countries remain locked in a trade war despite efforts to ease tensions.

The latest figures come days after a fresh flare-up in trade tensions between the world's top two economies.

Following sanctions imposed by Washington over forced labour and national security concerns, Beijing on Wednesday announced restrictions on drone exports to the United States and blacklisted six firms.