China's trade surplus rose to a record high for the third straight month in July, the Wall Street Journal reported, quoting figures from Dow Jones Newswires. The July surplus hit US$14.6 billion, breaking the US$14.5 billion record set in June. Exports rose 22.6% in July from a year earlier and imports increased by 19.7% to $65.72 billion. If the trend continues, China's trade surplus at the end of the year may be 50% higher than in 2005, when it hit US$101.88 billion, Julian Jesson, chief international economist with Capital Economics told the newspaper. Economists believe the record surpluses may push Beijing to allow for faster appreciation of the yuan.
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