China’s trade surplus expanded again in the second quarter, providing the economy with a crucial boost ahead of Wednesday’s release of growth data. According to figures published by the General Administration of Customs on Monday, China’s trade surplus was Rmb850bn ($136.7bn) in the second quarter, up from Rmb760bn in the first three months of 2015.

　　继星期三中国政府发布经济增长数据之后，有一组数据表明中国第二季度的贸易顺差又实现了增长。据星期一中国海关总署发布的数字显示，今年第二季度中国的贸易顺差达到了8500亿人民币(1367亿美元)，较今年的前三个月增长900亿人民币。

　　The overall first-half trade surplus, of Rmb1.6tn, was some 150 per cent higher than the same period a year ago. Surging net exports have provided an important cushion for the Chinese government, which may struggle to reach its gross domestic product growth target of 7 per cent this year. According to a Bloomberg survey of economists, second-quarter GDP is expected to come in at 6.8 per cent, down from the first quarter’s 7 per cent figure.

　　今年上半年的贸易顺差是1.6万亿人民币，环比增涨了1.5倍。净出口的激增为中国政府提供了一个重要的缓冲，因为中国政府正在为能否在今年实现7%的GDP增长发愁。据彭博资讯的经济人士称，中国第二季度的GDP将下降到6.8%，比第一季度下降0.2%。

　　China’s annual growth rate has slowed to its lowest level in a quarter century as government officials say the economy enters a “new normal” less dependent on debt-fuelled infrastructure and real estate investment.

　　今年中国的经济增长达到了近25年来的最低点，中国政府称中国经济进入了一个“新的正常的”时代，不再严重依赖债务刺激基础设施建设和房地产投资。

　　Without the large increase in first-quarter net exports, which made up for plummeting investment figures, China’s economy would have expanded less than 6 per cent over the first three months of the year. China’s ballooning trade surplus, however, reflects the collapse in commodity prices over the past year rather than a robust export sector.

　　第一季度没有实现净出口的大幅度增长使得投资数字大幅度下跌，那么今年中国政府要想实现6%的增长都将会很有难度。但是中国膨胀的贸易顺差反映出中国商品价格的下调而非出口的欣欣向荣。

　　Exports rose in June for the first time in four months, increasing 2.1 per cent over the same month last year.

　　四个月以来，出口贸易首次在六月实现了增长，环比增长2。1%。

　　China’s overall foreign trade fell 6.9 per cent in the first half to Rmb11.5tn. Of this, exports were down 0.9 per cent compared with a 15.5 per cent decline in imports. The latter figure represents steep falls in the prices of many commodities, which have been driven down in part by slower economic growth in China.