China’s foreign trade accelerated in October, signaling stronger momentum in the economy as the nation continues implementing growth-boosting policies. Total imports and exports grew 4.6% year-on-year, a significant increase from September’s 0.7% rise, according to the General Administration of Customs (GAC). For the first 10 months of the year, trade volume reached 36.02 trillion yuan (around $5 trillion USD), with exports climbing 6.7% and imports rising 3.2%.
The trade surplus expanded by 17.6% year-on-year, reaching 5.58 trillion yuan, while trade with ASEAN, China’s largest trading partner, grew by 8.8%. Trade with Belt and Road Initiative countries rose 6.2%, and exports of high-demand mechanical and electrical goods, like data processing equipment and automobiles, surged significantly. Imports of key commodities such as iron ore and coal increased, while crude oil imports saw a slight decrease.
China’s October trade performance reflects the impact of recent pro-growth measures, including policies to boost domestic demand, support businesses, and stabilize capital markets. Economists expect continued economic traction, bolstered by government efforts to foster manufacturing growth, stabilize the property sector, and ensure resilient foreign trade throughout the year.Bas du formulaire
