by XIN Yuan
China's exports reached a record high for the first ten months of the year, as rising shipments to Southeast Asia, Europe and Africa helped offset a deeper drop in shipments to the United States, according to official data.
Exports rose 6.2% to 22.12 trillion yuan (US$3.1trillion) in January–October, the General Administration of Customs said on Thursday. October shipments slipped 0.8% on a high comparison base, and analysts said underlying momentum was little changed.
Total goods trade grew 3.6% year on year to 37.31 trillion yuan in the period.
Exports to the United States remained the biggest drag, falling 17% to 2.52 trillion yuan in the ten months amid tariff pressure. But shipments to other major markets continued to grow. Exports to ASEAN, now China's largest trading partner, rose steadily, supported by demand from Singapore and Vietnam. Strong turnout from Belt and Road economies at the Canton Fair, which ended on Nov. 4, also pointed to firm demand in emerging markets.
Trade with the European Union strengthened as well. Bilateral trade reached 4.88 trillion yuan in the first ten months, with China's exports to the bloc up 8.4% year on year. LUO Zhiheng, chief economist at Yuekai Securities, told Jiemian News that Europe's gradual recovery and industrial development in emerging markets have supported demand for Chinese intermediate and capital goods, while Chinese firms have become more active in expanding overseas markets.
Exports to Africa posted some of the strongest gains, driven by demand for machinery and other infrastructure-related goods. TAO Chuan of Minsheng Securities said Africa is fast emerging as a new frontier for China's exports, supported by stronger economic links and increasing project activity across the region.
Economists say China's shift toward higher-value products, together with its large industrial clusters and deep supplier networks, continues to give exporters flexibility to adapt to global demand swings. Tao said that even with rising U.S. tariffs and policy uncertainty in major economies, "more technology-intensive products with strong supply-chain advantages should hold up and continue to underpin exports."