Core Viewpoint - China's foreign trade has shown resilience and steady growth in the first three quarters of the year, with a year-on-year growth rate of 4% in total goods trade [2] Group 1: Trade Performance - In the first three quarters, China's total goods trade reached 33.61 trillion yuan, with exports at 19.95 trillion yuan (up 7.1%) and imports at 13.66 trillion yuan (down 0.2%) [2] - The import and export growth rates have accelerated quarterly, with growth rates of 1.3%, 4.5%, and 6% in the first, second, and third quarters respectively [2][3] - The number of foreign trade entities with import and export performance reached 700,000 for the first time, exceeding last year's total [2][3] Group 2: Market Diversification - Trade with countries involved in the Belt and Road Initiative reached 17.37 trillion yuan, growing by 6.2% and accounting for 51.7% of total trade [2] - Exports to ASEAN, Latin America, Africa, and Central Asia grew by 9.6%, 3.9%, 19.5%, and 16.7% respectively [2] Group 3: Export Product Trends - Exports of mechanical and electrical products reached 12.07 trillion yuan, growing by 9.6% and accounting for 60.5% of total exports [3] - High-tech product exports, including electronic information and high-end equipment, saw significant growth rates of 8.1%, 22.4%, and 15.2% respectively [3] Group 4: Import Trends - Imports began to recover, with a growth rate of 4.7% in the third quarter, driven by increased demand for raw materials and high-tech equipment [3][6] - The import quantity index increased by 0.6% year-on-year, despite a 0.2% decline in total import value [6] Group 5: Cross-Border E-commerce - Cross-border e-commerce imports and exports reached approximately 2.06 trillion yuan, growing by 6.4%, with exports at about 1.63 trillion yuan [7] - Major export categories included apparel, digital products, and home appliances, while imports were primarily beauty products, food, and healthcare items [7] Group 6: Regional Trade Developments - The western region of China saw foreign trade growth of 10.2%, with total trade reaching 3.21 trillion yuan in the first three quarters [8] - The western region's trade through the New Western Land-Sea Corridor grew by 19.3%, contributing significantly to overall trade growth [8]

前三季度外贸增速何以逐季加快（权威发布） 我国货物贸易顶住压力，实现平稳增长，同比增速达4% 制图：张芳曼 10月13日，国务院新闻办举行新闻发布会，介绍前三季度进出口情况。据海关统计，今年前三季 度，我国货物贸易进出口33.61万亿元，同比增长4%。其中，出口19.95万亿元，增长7.1%；进口13.66 万亿元，下降0.2%。9月，进出口4.04万亿元，增长8%。海关总署副署长王军说："我国货物贸易顶住 压力，实现平稳增长，展现出较强韧性，有底气、有朝气、有锐气。" 有进出口实绩的外贸经营主体首次达70万家，超去年全年总量 "今年以来，我国外贸在复杂的外部环境下顶压前行，延续稳中向好发展势头。各地各部门攻坚克 难、努力拼搏，广大外贸企业积极应变、开拓创新，我国外贸韧性彰显、结构优化，实现了量质齐升， 成绩来之不易。"王军介绍。 进出口增速逐季加快。一、二季度我国进出口分别增长1.3%和4.5%，三季度增长6%，已连续8个季 度实现同比增长。 进口运行逐步回升。随着内需潜力有效释放，二季度进口同比增长0.3%，三季度增速进一步加快 到4.7%。三季度，原油、金属矿砂进口量同比分别增加4.9%和10.1%；计 ...

Core Viewpoint - China's foreign trade shows resilience and steady growth in the first three quarters of the year, with total imports and exports reaching 33.61 trillion yuan, a year-on-year increase of 4% [1][2]. Trade Performance - Exports amounted to 19.95 trillion yuan, growing by 7.1%, while imports were 13.66 trillion yuan, down by 0.2% [1][5]. - The trade growth rate accelerated each quarter, with increases of 1.3%, 4.5%, and 6% in the first, second, and third quarters respectively [1]. Market Diversification - Trade with countries involved in the Belt and Road Initiative reached 17.37 trillion yuan, up 6.2%, accounting for 51.7% of total trade [1]. - Exports to ASEAN, Latin America, Africa, and Central Asia grew by 9.6%, 3.9%, 19.5%, and 16.7% respectively [1]. Export Product Trends - Exports of mechanical and electrical products reached 12.07 trillion yuan, a 9.6% increase, making up 60.5% of total exports [2]. - High-tech product exports, including electronic information and high-end equipment, saw significant growth rates of 8.1%, 22.4%, and 15.2% respectively [2]. Import Trends - Imports began to recover, with a 0.3% increase in the second quarter and a further acceleration to 4.7% in the third quarter [2]. - Notable increases in import volumes for crude oil and metal ores were 4.9% and 10.1% respectively [2]. Active Foreign Trade Entities - The number of foreign trade entities with import and export performance reached 700,000, a year-on-year increase of 5.2 [2]. - Private enterprises accounted for 613,000 of these, with a total import and export value of 19.16 trillion yuan, growing by 7.8% [2]. Global Trade Position - China maintained its position as the world's largest goods trader, accounting for 11.8% of global trade in the first seven months [3]. - Exports of industrial robots surged by 54.9%, and wind power equipment exports increased by 23.9% [3]. Import Policy and Market Access - China expanded its import market by adding 135 new agricultural products from 50 countries and regions [5]. - The country implemented zero tariffs on 100% of products from the least developed countries it has diplomatic relations with, resulting in a 9.7% increase in imports from these nations [5]. Cross-Border E-commerce - Cross-border e-commerce imports and exports reached approximately 2.06 trillion yuan, growing by 6.4% [6]. - Major export categories included clothing, digital products, and home appliances, while imports were primarily beauty products, food, and healthcare items [6]. Western Region Trade Growth - The western region of China saw a robust trade performance, with imports and exports totaling 3.21 trillion yuan, a year-on-year increase of 10.2% [7]. - The western land-sea new passage contributed significantly to this growth, with a 19.3% increase in trade through this route [7].

海关总署13日发布数据显示，今年前三季度，我国外贸在复杂的外部环境下顶压前行，延续了稳中向好的发展势头。至此，我国进出口已 连续8个季度实现同比增长，反映出我国经济持续向好的强劲韧性。 汉 同年575年 x -、二季度數国旗出口 a 255 分别增长1.3%和4.5% 三年度增长6% 目達到3个基度实现同比增长 49 官方共产1 这周其下，45% 国 可 下 90 CRP 調港 X 同Z-X 权威数恒 市场多元化特级推进 all and the start of the start of the start of the start of the see of the see and 载国对英章 file -路" 国家进出口 00- 單卡6.2% 对泵里、拉美、非洲、中亚套进出口 分别增长 9,6%、3.9%、19-5%和16-7% yours ses start station with a 聘长2% 权威数读 胎口产品向新向优 Films and 进口运行逐步回升 季度湖口 同比增长0.3% 三年 (3) 3 步加快el4.7% 05 载国H口机电产品12.07万亿元 增长9.6% 与H回属信的60.5% ...

Group 1: Import and Export Data Overview - In September, total exports reached 328.6 billion, with a growth rate of 8.3% year-on-year, while imports were 238.1 billion, growing by 7.4%[1] - The rebound in export growth is supported by global economic recovery and market diversification, alongside a low base effect from the previous year[1] - The global manufacturing PMI remained above the neutral line, with September's PMI at 50.8%[1] Group 2: Factors Influencing Export Growth - Market diversification continues to support export growth, with significant increases in exports to regions like APEC (up 56.4%) and ASEAN (up 25.9%) in September[1] - The low base effect from last year contributed to the improved export figures, with September 2022 showing a decline of 2.3%[1] Group 3: Import Dynamics - Import growth exceeded historical levels, driven by improved demand and China's proactive opening-up policies[1] - In September, imports from Africa, ASEAN, and the EU showed significant increases, while imports from the US saw a reduced decline[1] - The low base effect also played a role in the recovery of import figures, with September 2022 showing a decline of 0.13%[1] Group 4: Future Outlook and Risks - The export outlook may face pressure due to potential trade friction and a forecasted global economic slowdown, with BIMCO projecting a growth rate of only 1.6% for 2025-2026[1] - The possibility of marginal increases in tariff levels between China and the US post-November could further impact export dynamics[1]

东方金诚研究发展部执行总监冯琳分析指出，当前中国贸易多元化正在对外部经贸环境波动形成重要缓 冲。 另一方面，外贸主体活跃度上升，企业预期更加稳定。官方透露，前三季度，中国有进出口实绩的外贸 经营主体首次达到70万家，已超过去年全年总量。中国海关贸易景气调查最新结果显示，出口企业信心 指数连续5个月回升，进口企业也连续3个月回升。 作为稳定外贸的"主力军"，截至今年三季度，民营企业进出口已连续22个季度同比增长，前三季度拉动 中国外贸增长4.3个百分点，占外贸总值比重达57%。 从产品看，出口产品结构优化，外贸增长动能更新。前三季度，中国出口工业机器人同比增长54.9%， 中国制造机器人走俏国际市场。中国出口风力发电机组及零件同比增长23.9%，风电出海跑出"加速 度"。 前三季度中国外贸数据13日公布，这份"成绩单"显示中国外贸韧性不减。 据官方数据，今年前三季度，中国货物贸易进出口总值达33.61万亿元(人民币，下同)，同比增长4%。 值得注意的是，在贸易冲突等外部压力有增无减的情况下，中国进出口增速逐季加快。今年一、二季度 中国进出口同比分别增长1.3%和4.5%，三季度同比增长6%，已连续8个季度同比增 ...

Core Insights - China's goods trade import and export reached 33.61 trillion yuan in the first three quarters of this year, with a year-on-year growth of 4% [1] - Exports totaled 19.95 trillion yuan, increasing by 7.1%, while imports were 13.66 trillion yuan, showing a slight decline of 0.2% [1] Group 1: Import and Export Growth - The growth rate of imports and exports accelerated quarter by quarter, with increases of 1.3%, 4.5%, and 6% in the first, second, and third quarters respectively, marking eight consecutive quarters of year-on-year growth [2] Group 2: Market Diversification - In the first three quarters, trade with countries involved in the Belt and Road Initiative reached 17.37 trillion yuan, growing by 6.2% and accounting for 51.7% of total trade value, an increase of 1.1 percentage points [3] - Trade with ASEAN, Latin America, Africa, and Central Asia grew by 9.6%, 3.9%, 19.5%, and 16.7% respectively, while trade with other APEC economies increased by 2% [3] Group 3: Export Product Quality - Exports of electromechanical products reached 12.07 trillion yuan, growing by 9.6% and making up 60.5% of total exports, an increase of 1.4 percentage points [4] - High-tech products such as electronic information, high-end equipment, and instruments saw growth rates of 8.1%, 22.4%, and 15.2% respectively, with "new three samples" and green products like railway electric locomotives also achieving double-digit growth [4] Group 4: Import Growth Recovery - With effective release of domestic demand potential, imports grew by 0.3% in the second quarter and accelerated to 4.7% in the third quarter [5] - In the third quarter, imports of crude oil and metal ores increased by 4.9% and 10.1% respectively, while the import value of measuring and testing instruments, computers, and communication equipment grew by 9.3% and 8.9% [5] Group 5: Active Foreign Trade Entities - The number of foreign trade enterprises with import and export performance reached 700,000 in the first three quarters, an increase of 52,000 year-on-year [6] - Among these, private enterprises numbered 613,000, with a total import and export value of 19.16 trillion yuan, growing by 7.8%, while foreign-invested enterprises totaled 80,000, with a value of 9.82 trillion yuan, growing by 3.1% [6]

Core Viewpoint - China's goods trade import and export reached 33.61 trillion yuan in the first three quarters of this year, with a year-on-year growth of 4% [2] Group 1: Import and Export Growth - The growth rate of imports and exports has accelerated quarter by quarter, with increases of 1.3%, 4.5%, and 6% in the first, second, and third quarters respectively, marking eight consecutive quarters of year-on-year growth [3] Group 2: Market Diversification - In the first three quarters, imports and exports to countries involved in the Belt and Road Initiative reached 17.37 trillion yuan, growing by 6.2% and accounting for 51.7% of total imports and exports, an increase of 1.1 percentage points [4] Group 3: Export Product Quality Improvement - Exports of electromechanical products reached 12.07 trillion yuan, growing by 9.6% and accounting for 60.5% of total exports, an increase of 1.4 percentage points. High-tech products such as electronic information, high-end equipment, and instruments grew by 8.1%, 22.4%, and 15.2% respectively [5] Group 4: Import Growth Recovery - With effective release of domestic demand, imports grew by 0.3% in the second quarter and further accelerated to 4.7% in the third quarter. Notably, imports of crude oil and metal ores increased by 4.9% and 10.1% year-on-year [6] Group 5: Active Foreign Trade Entities - The number of foreign trade enterprises with import and export performance reached 700,000 in the first three quarters, an increase of 52,000 year-on-year. Among them, private enterprises accounted for 613,000, with imports and exports totaling 19.16 trillion yuan, a growth of 7.8% [7]

Core Points - China's goods trade import and export reached 33.61 trillion yuan in the first three quarters of this year, with a year-on-year growth of 4% [1] - Exports totaled 19.95 trillion yuan, increasing by 7.1%, while imports were 13.66 trillion yuan, showing a slight decline of 0.2% [1] Group 1: Import and Export Growth - The growth rate of imports and exports has accelerated quarter by quarter, with increases of 1.3%, 4.5%, and 6% in the first, second, and third quarters respectively, marking eight consecutive quarters of year-on-year growth [1] - In September alone, the total import and export value reached 4.04 trillion yuan, reflecting an 8% increase [1] Group 2: Market Diversification - Trade with countries involved in the Belt and Road Initiative reached 17.37 trillion yuan, growing by 6.2% and accounting for 51.7% of total trade, an increase of 1.1 percentage points [1] - Exports to ASEAN, Latin America, Africa, and Central Asia grew by 9.6%, 3.9%, 19.5%, and 16.7% respectively, while trade with other APEC economies increased by 2% [1] Group 3: Export Product Quality - Exports of electromechanical products reached 12.07 trillion yuan, up by 9.6%, making up 60.5% of total exports, an increase of 1.4 percentage points [2] - High-tech products such as electronic information, high-end equipment, and instruments saw growth rates of 8.1%, 22.4%, and 15.2% respectively, with "new three samples" and green products like electric locomotives also achieving double-digit growth [2] Group 4: Import Recovery - Imports began to recover gradually, with a 0.3% year-on-year increase in the second quarter and a further acceleration to 4.7% in the third quarter [2] - In the third quarter, the import volumes of crude oil and metal ores increased by 4.9% and 10.1% respectively, while the import values of measuring instruments and computers grew by 9.3% and 8.9% [2] Group 5: Active Foreign Trade Entities - The number of foreign trade enterprises with import and export performance reached 700,000, an increase of 52,000 year-on-year [2] - Among these, private enterprises accounted for 613,000, with a total import and export value of 19.16 trillion yuan, growing by 7.8%, while foreign-invested enterprises numbered 80,000, with a total value of 9.82 trillion yuan, increasing by 3.1% [2]

Core Insights - Despite fluctuating tariff rates in the US over the past six months, Chinese small appliance exporters are seeking ways to adapt and remain competitive, with many concluding that China remains the most competitive production base globally [1][4] Group 1: Company Strategies - Some small appliance companies, like Letu Electric, have paused plans to establish factories in Southeast Asia due to rising costs and insufficient local infrastructure [1] - Letu Electric's general manager noted that labor costs in Malaysia have increased by 7%-8% over the past six months, making manufacturing costs approximately 15% higher than in China [1] - Companies that do not heavily rely on the US market are less inclined to set up overseas factories, with many preferring to explore alternative markets instead [3] Group 2: Industry Trends - Leading companies in the appliance sector, such as Xinbao, have already established overseas operations to mitigate external uncertainties, with Xinbao's Indonesian factory showing growth in exports [4] - Data indicates a decline in exports of various small appliances from China to the US, highlighting the impact of changing tariffs on kitchen appliance exports [4] - Industry experts suggest that in a complex trade environment, appliance exporters should focus on innovation and diversifying markets, especially for small enterprises facing challenges in global expansion [4]