China’s official July trade data surprises on the upside

BEIJING - China’s trade growth rebounded in July, according to official figures, with exports gaining 5.1% y/y and imports surging 10.9%. ANZ Bank comments that, while the positive growth can be attributed to the low base last year, it believes an improvement in liquidity access in the aftermath of June’s cash crunch may have restored trading activities, resulting in the upside surprise.