China's trade surplus reached a new record high of $28.7 billion in August after its imports significantly slowed as a result of weakening domestic demand, analysts said.

The nation's export growth slowed to 21.1 percent year-on-year in August from 26.9 percent in July, but its import growth slowed more sharply to 23.1 percent from 33.7 percent, leading to the record monthly surplus.

China's exports to the United States, the European Union and Japan all registered a slowdown in August.