China's Global Exports Growth In July Defy U.S. Tariff Headwinds,

Li Chen
07 Aug, 2025
Hong Kong

China and Hong Kong stocks fluctuated as investors reviewed the latest international trade data and awaited corporate results. 

The Hang Seng index increased 0.5%, and the mainland-focused CSI 300 index edged up a fraction in a busy week of economic releases. 

 

China's Export Growth Accelerated in July

China's exports accelerated in July, driven by an increase in non-U.S. demand, and imports advanced at a faster-than-expected pace. 

Exports increased 7.2% to $321.8 billion, and imports advanced 4.1% to $223.6 billion, driving the trade surplus higher by 15% to $98.2 billion.

For the first seven months of 2025, China's total trade surplus increased to $683.5 billion, with exports up 6.1%, while imports declined by 2.7% compared to the same period a year ago.

Higher U.S. tariffs continue to negatively impact shipments, and exports to the U.S. fell 21.7% in July, after falling 16.1% in June. 

Chinese goods are facing an average of 51% U.S. import taxes, forcing many suppliers to seek alternative markets in Europe, Africa, and Latin America.

Exports to the ASEAN region advanced by 16.6%, matching the 16.8% in the previous month; to the European Union accelerated to 9.2% from 7.6%; to Africa soared 42%; and to Latin America advanced 7.7%, respectively.

 

China Indexes and Stocks 

The Hang Seng index increased 0.5% to 25,038.90, and the mainland-focused CSI 300 index edged up 0.1% to 4,115.54. 

Ahead of earnings, Semiconductor Manufacturing International advanced 3.4% to HK $54.20, and China Mobile decreased 0.1% to HK $85.50. 

ZTO Express increased 5% to HK $164.40, Alibaba Group Holding 2.4% to HK $119.50, and Tencent Holdings decreased 0.6% to HK $565.50.