China's Export Boom Rolls On Despite Trade Backlash

China’s trade surplus hit $112.5 billion in July, according to customs data released Friday, extending a streak in which exports have outpaced imports by more than $100 billion for three straight months. The scale is putting China on pace to surpass last year’s record $1.19 trillion trade surplus. Exports rose 23.9% in U.S.-dollar terms while imports climbed 27.5% in July. Despite weak consumer spending and a prolonged property slump weighing on domestic growth, the export “boom” is still gaining momentum. Demand has been boosted by disruptions to oil and gas flows through the Strait of Hormuz and heightened interest in Chinese electric vehicles and renewable-energy products.