Core Insights - China's foreign trade diversification pattern continues to deepen, with increasing cooperation with Southeast Asia and rapid growth in trade with emerging markets, leading to a more balanced trade partner structure [1][2] Trade Partner Analysis - The report identifies a significant shift in trade partner relationships, with BRICS countries transitioning from "volatile partners" to "developing partners," indicating deepening cooperation with emerging markets [2] - Conversely, Mexico and Canada have shifted from "developing partners" to "volatile partners," reflecting the spillover effects of U.S. tariff policies [2] - South Korea is categorized as a "stable partner," indicating a long-term and stable cooperation between Chinese suppliers and South Korean buyers [2] Trade Volatility Index - The trade volatility index reveals that ASEAN, Australia, and the EU rank as the top three in terms of trade volatility [2] - Categories with the highest increase in volatility include Category 16 (electromechanical), Category 14 (jewelry and precious metals), and Category 18 (optical and medical equipment) [2] - Category 16, which has the highest export total, shows significant volatility in the ASEAN, BRICS, and EU markets, reflecting structural optimization driven by growth [2] - The report highlights that products representing export transformation and upgrading, particularly Categories 16, 17 (transport equipment), and 18, have seen substantial increases in exports to the EU, ASEAN, and BRICS, indicating successful upgrades in China's export product structure [2]

Core Insights - The report indicates that China's foreign trade diversification pattern is deepening, with a more balanced structure of trade partners [1][2] Group 1: Trade Dynamics - China has maintained a trade surplus with the US, ASEAN, Mexico, EU, and BRICS countries over the past two years, with an expansion of trade surplus with ASEAN and EU from January to August 2025 [1] - The export trade share to ASEAN, EU, Japan, and Canada has shown positive growth compared to the same period last year, reflecting a shift in trade patterns [1][3] Group 2: Trade Partner Analysis - The relationship with BRICS countries has evolved from "volatile partners" to "developing partners," indicating a deepening cooperation with emerging markets [3] - Mexico and Canada have shifted from "developing partners" to "volatile partners," reflecting the spillover effects of US tariff policies [3] - South Korea is categorized as a "stable partner," indicating a long-term cooperative relationship between Chinese suppliers and South Korean buyers [3] Group 3: Trade Volatility and Product Structure - The trade volatility index ranks ASEAN, Australia, and the EU as the top three, with significant fluctuations in product categories such as machinery and electronics, jewelry, and optical medical equipment [3] - The category of machinery and electronics, which has the highest export volume, shows notable volatility in ASEAN, BRICS, and EU markets, reflecting structural optimization driven by growth [3] - The report highlights that products representing export transformation and upgrading have seen significant increases in exports to the EU, ASEAN, and BRICS, except for transportation equipment exports to BRICS, which have declined [3]

Core Viewpoint - China's diversified foreign trade effectively mitigates the impact of external economic fluctuations, contributing to global supply chain stability and benefiting both domestic and international consumers and businesses [1][2] Group 1: Trade Performance - In the first eight months of this year, China's total goods trade import and export value increased by 3.5% year-on-year [1] - Despite a slowdown in export growth in August, particularly due to a decline in exports to the U.S., trade relations with the EU, ASEAN, Africa, and Latin America remain strong [1] Group 2: Economic Impact - China's foreign trade continues to be a significant contributor to global trade growth, with the Chinese economy serving as a major support for global economic recovery [2] - The ongoing effectiveness of policy measures is expected to further unleash China's economic vitality and potential, providing valuable certainty for global economic development [2]