Data released by the General Administration of Customs of China on August 7 showed that in July (denominated in US dollars), exports increased by 23.9% year-on-year, lower than the previous value of 27%; imports increased by 27.5% year-on-year, lower than the previous value of 36%; and the trade surplus was 112.5 billion US dollars, lower than the previous value of 125.62 billion US dollars. The strong performance of high-tech product exports was a major highlight, with semiconductor exports nearly doubling year-on-year by value, and overall high-tech product exports expanding by 40.7%, mainly driven by the global boom in artificial intelligence infrastructure construction and demand for renewable energy products.