China's imports in dollar terms soared by 51.1 percent to around $218.4 billion year on year in May, while exports rose by 27.9 percent year on year in May to $263.9 billion, data from the General Administration of Customs (GAC) showed on Monday.
"Imports increased faster than exports once again, suffering from increasing price pressures from commodities," Wang Dan, chief economist at Hang Seng Bank China, said.
Wang said that China's exports continued the strong momentum in May and that electronics and consumer goods exports surged as consumer demand in the U.S. and the European Union (EU) begin to normalize.
Global industries started to repair their lost capacity in 2020, so the demand for industrial inputs such as steel and car parts also surged.
Wang also expects exports to stay strong for the rest of the year. "Due to the resurgence of COVID-19 in major exporters like India and Vietnam, the world's dependence on China's industrial power has once again increased," she said.
出品：南方财经全媒体集团 · 音视频部