China trade surplus surges to record as exports accelerate

By JOE McDONALD
AP Business Writer

BEIJING (AP) — China’s monthly trade surplus soared to a record $97.9 billion in June as exports picked up after the easing of anti-virus controls that shut down Shanghai and disrupted trade. Customs data showed exports rose 17.9% to $331.2 billion, up from May’s 16.9% growth. Imports edged up 1% to $233.3 billion in a sign of weak domestic demand. With almost no growth in imports, China’s global trade surplus swelled by 90% compared with a year ago. Exports to the United States surged 19.3% over a year ago despite lingering tariff hikes in a trade war over Beijing’s technology ambitions. China’s trade surplus with the United States widened by 26% from a year earlier.