China earns $500m per hour from exports as AI goods drive the growth

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China's exports hit a record $359.4bn in April, equivalent to roughly $500m per hour, with Goldman Sachs and Nomura attributing about half of the year-on-year growth to AI-related goods. Semiconductors reached $31.1bn, mobile phones $84.1bn, and high-tech products $104bn for the month. The shift marks a structural change in China's export mix away from low-margin consumer goods toward semiconductors, server hardware, and AI accelerators feeding global AI infrastructure build-outs. Despite US tariffs and BIS Entity List enforcement, Chinese chip and server exports continue to grow, raising questions about the effectiveness of export controls. Geographic diversification to Southeast Asia, the Middle East, Europe, and Latin America is also accelerating as a structural response to US trade policy.

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