外贸韧性活力持续彰显

Core Viewpoint - China's goods trade import and export value reached 41.21 trillion yuan in the first 11 months of 2025, showing a year-on-year growth of 3.6%, indicating strong resilience and vitality in foreign trade [1]. Trade Performance - Exports totaled 24.46 trillion yuan, increasing by 6.2%, while imports were 16.75 trillion yuan, with a slight growth of 0.2% [1]. - In November alone, exports were 2.35 trillion yuan and imports were 1.55 trillion yuan, reflecting growth rates of 5.7% and 1.7%, respectively, with acceleration in growth rates compared to the previous month [1]. Trade Structure Optimization - General trade and processing trade saw growth, with general trade imports and exports at 26.04 trillion yuan (up 2.1%) and processing trade at 7.74 trillion yuan (up 7.3%) [3]. - Trade with ASEAN and EU increased, with total trade with ASEAN at 6.82 trillion yuan (up 8.5%) and with the EU at 5.37 trillion yuan (up 5.4%) [3]. - Private enterprises and foreign-invested enterprises also experienced growth, with private enterprises' trade at 23.52 trillion yuan (up 7.1%) and foreign-invested enterprises at 12.07 trillion yuan (up 3.5%) [3]. Policy Support - Various supportive policies are being implemented to enhance foreign trade resilience, including measures to optimize origin visa facilitation for the new energy and intelligent connected vehicle industry [5]. - Shanghai's Songjiang District has issued opinions to encourage the development of new foreign trade formats, including cross-border e-commerce and fashion consumer goods trade [5]. Market Outlook - Market expectations for foreign trade development are generally optimistic, with analysts noting that the rebound in export growth in November is supported by global economic recovery and diversification of markets [6][7]. - The resilience of China's exports is attributed to the flexibility and pressure resistance of private enterprises, alongside the positive effects of manufacturing upgrades and supportive growth policies [7].