China Exports Surge As AI Boom Drives Demand

HONG KONG (AP) — China has reported its export picked up pace in June, jumping 27% from a year earlier thanks to strong demand from the boom in artificial intelligence. The increase in exports in June was much better than economists had expected. Exports rose 19.4% year-on-year in May. The customs agency said Tuesday that imports surged 36% in June, stronger than May’s 27.4% year-on-year growth. China has been exporting more autos as well as tech-related products as the rapidly expanding adoption of AI boosts demand for semiconductors and other electronic equipment. The strength in export manufacturing has helped to offset weakness in domestic spending and investment.