MNI BRIEF: China's Total Trade Up 4% In July - SAFE

China’s total trade in goods and services reached CNY4.4 trillion in July, an increase of 4% year-on-year, balance of payments data from the State Administration of Foreign Exchange showed on Friday. 

In goods trade, exports were CNY2.2 trillion, while imports reached CNY1.5 trillion, generating a surplus of CNY660 billion.

For services, exports hit CNY265 billion yuan, with imports of CNY381 billion, resulting in a deficit of CNY116 billion.

Chinese interbank traders see a lower chance of further monetary easing in the rest of 2025 than they did in July as economic growth continues to be solid, MNI’s China Money Market Index for August indicated. (See MNI CHINA MONEY MARKET INDEX: PBOC Easing)