AI Data Insight
China's total imports in May reached $271.35 billion, which, despite a slight decline from the previous month's $274.62 billion, posted a massive 27.4% year-over-year increase, strongly beating the market consensus estimate of 25%. This double-digit growth was primarily driven by the explosive global demand for AI semiconductors and an early stockpiling wave triggered by Middle East geopolitics, masking the structural concerns of persistently sluggish domestic demand recovery in the traditional sectors.