前10个月我国货物贸易进出口增长3.6% 民营企业进出口表现亮眼

Core Insights - China's goods trade maintained steady growth in the first ten months of 2025, with total import and export value reaching 37.31 trillion yuan, a year-on-year increase of 3.6% [1] - Exports were the main driving force, growing by 6.2%, while imports remained stable compared to the previous year [1] - The ASEAN region became China's largest trading partner, with trade value of 6.18 trillion yuan, up 9.1% year-on-year [1] Trade Performance - In October, the total goods trade value was 3.7 trillion yuan, a slight year-on-year increase of 0.1%, with exports declining by 0.8% and imports increasing by 1.4% [1] - The EU and the US ranked as China's second and third largest trading partners, with trade values of 4.88 trillion yuan (up 4.9%) and 3.38 trillion yuan (down 15.9%), respectively [1] - Trade with Belt and Road Initiative countries totaled 19.28 trillion yuan, reflecting a year-on-year growth of 5.9% [1] Export Dynamics - The resilience of exports is attributed to accelerated diversification, which effectively mitigated the impact of a significant decline in exports to the US [2] - Private enterprises accounted for 57% of total foreign trade, with a year-on-year growth of 7.2%, indicating their crucial role in maintaining trade vitality [2] - Foreign-invested enterprises also showed growth, with a 2.9% increase, highlighting China's continued attractiveness to foreign capital [2] Future Outlook - The fourth quarter is expected to see stable but slight growth in goods trade, supported by manageable tariff impacts and diversified markets [2] - However, there are short-term pressures indicated by a slight decline in October exports, suggesting overall growth may be slightly below the average of the first ten months [2] Policy Measures - To address increasing downward pressure on exports, potential policy measures may include supporting enterprises in shifting from export to domestic sales, enhancing financial support for struggling companies, and expanding export credit insurance [3] - Efforts will also focus on stabilizing export markets outside the US through bilateral and multilateral trade agreements and visa exemptions [3]