China's August imports jump 28.2%, outpace exports for sixth month

China's import growth accelerated to 28.2% year-on-year in August in US dollar terms, outstripping export growth for the sixth consecutive month and marking a fourth straight month of double-digit expansion.

Data released by the General Administration of Customs on Tuesday shows China's total foreign trade reached $683.8 billion in August, up 26.3% from a year earlier.

Exports grew 25.0% year on year, quickening from the previous month and matching analysts' forecasts, while the monthly trade surplus stood at $119.09 billion.

Trade with Regional Comprehensive Economic Partnership (RCEP) members posted robust gains, with imports from RCEP partners jumping 37.8% and exports climbing 24%.

Driven by surging global demand for artificial intelligence infrastructure, integrated circuit exports reached $40.73 billion in August, while the cumulative total for the first eight months reached $256.75 billion — a 103.9% year-on-year jump.

As the world's number 1 manufacturing power and number 2 consumer market, China continues to position its economy as a driver for global growth. It has ranked as the world's second-largest import market for 17 consecutive years.

Chinese officials reiterate that the country isn't actively chasing a trade surplus. Instead, it's focused on high-level opening up, granting zero-tariff access to 63 nations and bringing average tariffs down to 7.3%. By continuing to unlock market access, China aims to share its massive domestic demand with international partners.