China’s goods trade surplus has climbed to an unprecedented $1.2 trillion over the past 12 months, according to data circulated by market analysts on 11 August. The figure is roughly double the level recorded five years ago, underscoring the country’s growing export strength despite persistent trade tensions with the United States. Analysts attribute the widening surplus to a rebound in shipments to markets outside the US, while imports have lagged amid muted domestic demand. The expanding external surplus risks heightening scrutiny from trading partners concerned about global trade imbalances. The robust trade performance comes alongside continued strength in China’s services sector: tourism generated about $1.3 trillion in economic output in 2023, keeping the nation the world’s second-largest travel market after the United States.