{"text":[[{"start":9.1,"text":"China’s exports surged last month on demand for AI-related goods as the world’s second-largest economy shook off the impact of energy shortages from the Middle East."}],[{"start":18.4,"text":"Exports expanded 19.4 per cent in May on a year earlier in dollar terms, exceeded the expectations of analysts in a Reuters poll of 15 per cent and the previous month’s growth of 14.1 per cent, official data from China’s General Administration of Customs showed on Tuesday."}],[{"start":36.05,"text":"Imports also grew faster at 27.4 per cent compared to analysts’ expectations of 25 per cent and April’s 25.3 per cent, led higher by semiconductor imports. "}],[{"start":48.699999999999996,"text":"“We are seeing a strong boost from the usual tech-related sectors,” said Lynn Song, chief China economist at ING. "}],[{"start":56.89999999999999,"text":"He pointed to a 110 per cent increase in China’s semiconductor exports, a 44 per cent rise in mobile phone shipments and a 66 per cent jump in automatic data processing machines, a category that includes processing units for computers and servers, data storage units, computers and other items. "}],[{"start":77.64999999999999,"text":"The figures were also buoyed by China’s trade truce agreed with Washington in October. Exports to the US jumped 35 per cent in May from a year earlier, when the tariff war was at its peak, while imports rose 20 per cent."}],[{"start":91.35,"text":"Song said the boost is likely to drop off from next month after the two sides wound back the worst of their tariffs last year."}],[{"start":null,"text":"
"}],[{"start":98.94999999999999,"text":"But the data, which came just weeks after a high-stakes summit in Beijing between Xi and Trump, showed that the US president’s tariffs have failed to slow China’s export machine. "}],[{"start":110.04999999999998,"text":"China’s trade surplus rose to $105.4bn in May from $84.8bn in April, the customs administration said, the highest figure since a combined figure for January and February this year."}],[{"start":124.19999999999999,"text":"China has depended on export growth to counter persistently weak consumer confidence and domestic spending amid a years-long slump in the property sector."}],[{"start":133.5,"text":"This has drawn objections from its trading partners including the EU, which complains that Chinese producers are dumping low-cost goods on their bloc’s markets."}],[{"start":143.7,"text":"Exports to the EU in the year to date rose 16.4 per cent on the same period last year, while imports from the bloc rose 8.6 per cent. In May, exports to the EU rose 7.6 per cent year on year while imports into China fell 1.3 per cent."}],[{"start":161.25,"text":"Exports to Russia between January and May, meanwhile, rose 26.4 per cent on a year earlier, up from 23.1 per cent between January and April. Imports from Russia rose to 20.2 per cent over the same period, from 17 per cent between January and April. "}],[{"start":179.7,"text":"China’s exports to south-east Asian countries, where many producers channel goods ultimately destined for the US to avoid tariffs, rose 24.3 per cent in May year on year, while imports from the region were up 28.2 per cent."}],[{"start":195.64999999999998,"text":"China’s own imports of computer hardware to supply its domestic AI boom were also significant."}],[{"start":203.2,"text":"Inbound shipments of electronic integrated circuits increased 68 per cent in May from a year earlier to $56.6bn, while imports of automatic data processing machines and parts increased 80 per cent to $17bn."}],[{"start":218.2,"text":"These two categories accounted for 27.1 per cent of China’s imports in May, compared with 20.3 per cent in the same month last year. "}],[{"start":227.85,"text":"Imports from South Korea hit record levels in May, rising 84 per cent year on year to $26.7bn. South Korea accounted for about 9.8 per cent of China’s imports, higher than Taiwan’s 8.5 per cent, the EU’s 8.3 per cent and 4.8 per cent for the US."}],[{"start":255.25,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1780980845_4212.mp3"}