NVIDIA is set to resume China chip sales
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A surge of exports from Chinese manufacturers supported the growth, as customers and producers alike took advantage of the U.S.-China trade war ceasefire.
The new restrictions will limit exports of technologies crucial for producing EV batteries and processing their raw materials.
Chinese state firm employee Zhang Jinming makes up for a 24% cut to his salary by delivering food for three hours every night after work and on weekends - and hopes he can avoid awkward encounters with colleagues.
The report on China’s gross domestic product was released as the U.S. took stock of the latest inflation figures, which showed that Trump’s tariffs were starting to push up prices. Prices of the products most exposed to tariffs, like household furnishings, jumped significantly in June.
Two economics professors say the U.S. is facing another big shock from China, and it could be worse than the first. They have a survival plan.
China’s economy slowed less than expected in the second quarter in a show of resilience against U.S. tariffs, though analysts warn that weak demand at home and rising global trade risks will ramp up pressure on Beijing to roll out more stimulus.
The rate, which slightly exceeded the 5.1 per cent average estimate from analysts polled by Reuters, positions Beijing to hit its full-year target of about 5 per cent. It shows how China has been able to keep growth on track through exports and investment even as it struggles with weak demand at home.
China's trade surplus surged in June, which analysts have attributed to exporters rushing to ship products before U.S. tariffs recommence.
China racked up record steel exports in the second quarter, as flows from the world’s top producer defied expectations for volumes to fade under a barrage of trade measures from Asia to Europe.
In the first half of the year, the world's second-largest economy expanded by 5.3 percent, the NBS said Tuesday.