The new restrictions will limit exports of technologies crucial for producing EV batteries and processing their raw materials.

China's trade surplus surged in June, which analysts have attributed to exporters rushing to ship products before U.S. tariffs recommence.

The rate, which slightly exceeded the 5.1 per cent average estimate from analysts polled by Reuters, positions Beijing to hit its full-year target of about 5 per cent. It shows how China has been able to keep growth on track through exports and investment even as it struggles with weak demand at home.

China has put export restrictions on technologies critical for producing electric vehicle batteries, in a move to consolidate its dominance in the sector that has contributed to the country’s lead in the global EV race.

Nvidia 's ( NVDA 0.37%) business has been going strong over the past few years thanks to its dominance in the global artificial intelligence (AI) chip market. The company designs the most powerful AI chips on the market,

Commerce secretary Howard Lutnick said the US’s reversal of restrictions on sales of chips to China followed recent trade negotiations with Beijing over rare earths. President Donald Trump curbed exports of Nvidia’s H2O artificial intelligence chips to China in April as part of an escalation of his trade war with Beijing.

Chinese state firm employee Zhang Jinming makes up for a 24% cut to his salary by delivering food for three hours every night after work and on weekends - and hopes he can avoid awkward encounters with colleagues.

China's exports beat expectations in June as businesses continued to rush out shipments to capitalize on a temporary tariff reprieve ahead of an August deadline.Exports jumped 5.8% in June in U.S. dollar terms from a year earlier,