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China’s imports rose 27.5% year-on-year to USD 285.35 billion in July 2026, broadly in line with market expectations of 27.9%. The latest reading followed June’s 36.0% surge, the strongest annual growth since June 2021, but pointed to some moderation in domestic demand, partly reflecting weather and logistics disruptions. Authorities at a late-July policy meeting pledged to support the slowing economy through a faster fiscal rollout and timely monetary easing, though they stopped short of announcing concrete measures to boost household consumption. The data also came as Beijing and Washington exchanged a fresh round of retaliatory measures in recent days, rekindling trade tensions and clouding the outlook for September’s bilateral summit. In the first seven months of 2026, imports grew 26.7% to USD 1.83 trillion. Imports of natural gas dipped 3% during the period, while those of crude oil dropped 13.2%, customs data showed.
