Core Viewpoint - China's exports have shown strong resilience in 2023, with a year-on-year growth of 6% in Q2, despite the U.S. imposing tariffs as high as 145% [1] Group 1: Export Performance - Exports accelerated in Q3, and the high base in Q4 is not expected to hinder continued high growth [1] - The resilience of Chinese exports is attributed to macroeconomic and industrial cycles, as well as structural support from seven years of industrial transformation and upgrading since 2018 [1] Group 2: Future Outlook - China's exports are expected to maintain high growth through 2026, even in a globally high inflation environment, with exceptional profitability in the export chain [1] - The successful transformation and upgrading of China's manufacturing and export industries are key factors in maintaining confidence against U.S. tariff adjustments [1]