China's factory output and retail sales growth slowed sharply and missed expectations in July, as new COVID-19 outbreaks and floods disrupted business operations, adding to signs the economic recovery is losing momentum.

In 2021, the EU exported €223 billion of goods to China and imported goods worth €472 billion. China is thereby Europe’s foremost trading partner when it comes to imports of goods, of which a substantial part passes through EU ports, in particular maritime ports.