The momentum is anchored by the global artificial-intelligence boom, which propelled semiconductor exports to a 110.1% increase over the previous year. This tech-led rally complements a significant recovery in trade with the United States, where shipments jumped 35.4% in May, rebounding from a period of heightened tariff-related friction. While exports to Southeast Asian partners climbed 24%, shipments to the European Union decelerated to a 7.6% gain.

Economic analysts point to these figures as a vital lifeline for Beijing’s 5.0% growth target, yet the scale of the trade surplus—widening to $105.4 billion—is likely to reignite friction over state subsidies. A recent OECD report suggests Chinese firms benefit from state support at levels three to eight times higher than international rivals, a factor contributing to nearly 60% of recent market share gains. Domestic demand remains fragile due to the property sector downturn, though a 27.4% rise in imports for May signals a potential turning point in internal consumption.