China has led the global recovery from the pandemic, which is still raging in many parts of the globe but receding in places where vaccinations have been widely deployed. Customs data released Monday showed total exports climbed 40% in the first five months of the year from a year earlier. They were up 29% from the same period in 2019. 

The boost from last year's slump is fading, however, and the $263.9 billion in Chinese exports in May was about level with the previous month. China's imports of $218.4 billion in May were 1.2% lower than in April. China's trade surplus in May was $45.53 billion, down 26.5% from a year earlier.