AI Data Insight
According to DataTrack data, China's June exports denominated in RMB grew by 20.8% YoY, significantly expanding from the previous value of 13.8%, demonstrating strong expansion momentum. This performance far exceeded market consensus, primarily driven by global demand for AI computing equipment and a front-loading trend triggered by US and European concerns over potential tariffs. Although short-term momentum is secure, caution is still needed in the 2nd half of the year regarding geopolitical interferences and pressures from end-market inventory destocking.