China's May Trade Growth Stayed Robust

China's trade growth remained robust in May, driven by strong demand for tech products and EVs. Exports increased 19.4% year-over-year, supported by an AI upcycle and green energy demand.

Key Takeaways

• 1.China's May exports rose 19.4% y/y, exceeding consensus expectations of 15%.
• 2.High-tech exports and EVs remain primary growth drivers, with semiconductor exports up 90% y/y.
• 3.China's goods trade balance hit a three-month high of USD 105bn.

Table of Contents

• China's May trade growth stayed robust
• Global asset class preferences definitions
• Appendix