China's upbeat trade performance proves US taking wrong approach

China's trade data for July came as a surprise for those that were predicting a continual weakening of the country's exports following the escalation of the China-US trade dispute.

According to the General Administration of Customs, China's yuan-denominated exports rose 10.3 percent year-on-year in July, up from 6 percent in June. Import growth was 0.4 percent year-on year in July, up from a negative 0.4 percent the previous month.

This resulted in a trade surplus of 310.26 billion yuan ($45.06 billion).