Economic Overview - In October, major economic indicators in China fell short of market expectations, with industrial added value growing by 4.9% year-on-year (expected 5.2%) and the service production index increasing by 4.6% [1][6] - Fixed asset investment showed a cumulative decline of 1.7% year-on-year (expected -0.7%), with infrastructure and manufacturing growth rates at 1.5% and 2.7% respectively, both below expectations [1][6] Consumption - Retail sales growth was 2.9% year-on-year, slightly down from the previous month, with significant structural changes observed [7] - Durable goods consumption weakened, particularly in the automotive and home appliance sectors, with automotive sales down 6.6% year-on-year [7] - Service consumption, particularly in the restaurant sector, showed improvement, with restaurant service consumption growth rising to 3.8% [7][8] Fixed Asset Investment - Fixed asset investment declined by 1.7% in October, with significant drops in real estate investment at -14.7% and manufacturing investment at -6.7% [11][14] - Real estate sales saw a notable decrease, with sales area and amount down 18.8% and 24.3% respectively [11] - Infrastructure investment continued to contract, with a year-on-year decline of 12.1% [12] Trade - Exports in October saw a significant drop, with a year-on-year decrease of 1.1% in dollar terms, marking the first negative growth since February 2025 [16] - Imports also slowed to a growth rate of 1.0%, indicating weak domestic demand [19] Supply Side - Industrial production growth slowed, with the industrial added value increasing by only 4.9%, below market expectations [22] - The manufacturing PMI fell to 49.7, indicating contraction for the first time since April [22] Inflation - CPI turned positive at 0.2%, the highest since February, while core CPI inflation rose to 1.2% [23][24] - PPI showed a slight recovery, with a year-on-year decline narrowing to 2.1% [24] Forward Outlook - The necessity for policy support has increased, with multiple incremental policies expected to take effect in November and December to boost infrastructure and manufacturing investment [27]

Core Viewpoint - President Trump is preparing to significantly reduce tariffs and promote new trade agreements with several Latin American countries to address rising living costs, particularly food prices, in response to recent electoral outcomes [1][3]. Group 1: Trade Agreements - The new trade agreements include framework agreements with Argentina, Guatemala, El Salvador, and Ecuador, aimed at lowering tariffs on essential food items such as beef, bananas, and coffee beans [1][2]. - The agreement with Argentina is highlighted as particularly important, as it will provide preferential market access for certain U.S. goods, including pharmaceuticals, chemicals, machinery, IT products, and medical devices [2]. - Agreements with Guatemala, El Salvador, and Ecuador focus on reducing tariffs on major export products like bananas and coffee beans, which are not significantly produced domestically in the U.S. [2]. Group 2: Tariff Reductions - Trump has indicated plans to lower tariffs on specific food items, including coffee, and the Treasury Secretary has mentioned potential tariff reductions on fruit imports [1][2]. - The White House anticipates that retailers and wholesalers will pass on the benefits of tariff reductions to American consumers [2]. Group 3: Political Context - This initiative follows recent Democratic victories in key states, where candidates emphasized the importance of affordable living costs [1]. - The move is seen as an effort to counter criticism of Trump's handling of high prices and to improve public perception of his administration [3].

内蒙古德基商贸有限责任公司负责人王勇说："海关的服务太给力了！境外预检让我们在货物入境 前就能完成煤质预判，加上智能查验设备的高效运作，降低了我们的物流成本。今年公司进口量同比增 长了近一倍，这离不开海关的大力支持。" 截至11月11日，锡林郭勒盟珠恩嘎达布其口岸年货运量突破500万吨，同比增长88％，创历史新 高。 这一突破的背后，是东乌海关精准施策的持续发力。在硬件升级上，东乌海关主动对接口岸"四进 二出"货运通道建设，配套部署H986检查设备与智能卡口协调应用，推动日通关车辆与年过货承载能力 稳步跃升。不断优化通关流程，全面推广"提前申报""两步申报"等模式，叠加"先放后检""集中申报"举 措，大力压缩进出口通关时间，国际贸易"单一窗口"使用率保持100%。针对煤炭等大宗进口货物，大 力宣传"境外预检"与第三方检测采信机制，建立"进境矿产品监管服务链"，实现货物"即到即查、快验 快放"。 东乌海关监管一科副科长董晓旭表示："为营造稳定高效的口岸营商环境，我们始终牢记监管与服 务并重的职责，主动靠前服务，以企业需求为导向精准优化通关流程，着力压缩通关各环节的作业时 限，实现货物即到即验、合格即放。" ...

这位不愿透露姓名的官员说，沙特准备立即采取措施，深化两国商业关系。一个沙特代表团即将访问黎 巴嫩，"讨论解决阻碍黎巴嫩向沙特出口的障碍"。该官员没有说明将采取哪些具体措施，以及哪些行业 可能会受到影响。 黎巴嫩总理纳瓦夫·萨拉姆在社交媒体X平台发文说，"感谢他们今天宣布愿立即采取措施加强两国贸易 关系，消除黎巴嫩出口障碍"。 新华财经北京11月14日电沙特阿拉伯一位高级官员13日说，过去几个月，黎巴嫩政府和安全部队在遏制 向沙特走私毒品方面取得"成效"，沙特方面计划据此加强与黎巴嫩的商业联系。 因毒品跨境走私问题日益突出，沙特政府于2021年4月宣布禁止从黎巴嫩进口水果和蔬菜，同年10月暂 停进口黎巴嫩商品。在此之前，沙特一直是黎巴嫩的主要出口对象。 路透社评论说，沙特放宽进口限制将是改善沙黎两国关系的"首个切实信号"。（刘江） （文章来源：新华社） 按那位沙特官员说法，黎总统约瑟夫·奥恩和总理萨拉姆已请求沙特政府重新审视其对黎巴嫩的相关政 策。沙特政府对黎方两位领导人过去几个月采取的各项举措表示赞赏。 这位官员还强调，黎巴嫩新政府为防止本国被用作威胁阿拉伯国家安全的平台所做努力，将有助于改善 双边关系。 ...

Core Insights - The article highlights the successful implementation of a cross-border financial service platform by Industrial Bank's Kunming branch, which provided a small and micro enterprise with a credit limit of 5 million yuan [1] Group 1: Company Initiatives - Industrial Bank's Kunming branch facilitated its first cross-border financing for a small export company specializing in fresh grapes and citrus fruits, targeting markets in Laos and Vietnam [1] - The company experienced increased funding needs due to a rise in foreign trade orders this year, emphasizing the importance of efficient and cost-effective bank credit financing [1] Group 2: Financial Services - The enterprise utilized the State Administration of Foreign Exchange's cross-border financial service platform, specifically the "Bank-Enterprise Financing Connection" application, to submit its credit financing request [1] - The approval process was notably swift, taking only one day from the submission of the credit application to the granting of the credit limit [1] - The use of China Export & Credit Insurance Corporation's short-term export credit insurance policy as a credit enhancement tool effectively alleviated the financing challenges faced by foreign trade enterprises [1]

1—10月份，一般贸易进出口增长2.3%，占进出口总额的比重为63.4%。对共建"一带一路"国家进出口 增长5.9%。民营企业进出口增长7.2%，占进出口总额的比重为57.0%，比上年同期提高1.9个百分点。机 电产品出口增长8.7%，占出口总额的比重为60.7%。 值得注意的是，当前，中国与国际合作仍在加强。 11月12日，中国商务部和西班牙经济、贸易与企业部签署了《关于中西经济工业合作混委会的合作备忘 录》。这是对今年4月中西双方共同发布的《关于加强全面战略伙伴关系的行动计划（2025—2028 年）》的具体落实举措，旨在加强两国政府间经贸领域对话。13日上午，中国商务部和西班牙经济、贸 易与企业部在京共同主办中西企业顾问委员会第三次会议，为双方企业家搭建交流和对接的平台。 10月28日，中国—东盟自贸区3.0版升级议定书签署，标志着双方经济一体化进程从传统的贸易投资自 由化便利化拓展至数字、绿色、标准、产供链等新兴领域。3.0版升级，有力推动区域数字科技赋能、 绿色产业合作、产业链供应链互联互通和标准规制对接，促进区域内大市场和产业链供应链加快融合发 展。 文/张智 11月14日，国家统计局发布数据显示 ...

Core Insights - The foreign trade performance of Henan province in the first ten months of the year shows a total import and export value of 741.12 billion yuan, with a year-on-year growth of 14.5%, surpassing the national average growth rate of 10.9% [2] - Exports reached 488.17 billion yuan, increasing by 21.8%, while imports totaled 252.95 billion yuan, growing by 2.6% [2] Trade Performance - The province's import and export value for the first ten months was 741.12 billion yuan, with exports at 488.17 billion yuan and imports at 252.95 billion yuan [2] - In October alone, the province's import and export value was 97.81 billion yuan, marking a month-on-month increase of 5.2% and the highest monthly export value of the year [2] Business Activity - The number of foreign trade enterprises with import and export performance reached 13,700, an increase of 11.5%, with 923 enterprises having an import and export value exceeding 50 million yuan, up by 12.6% [4] - Private enterprises accounted for 68.6% of the province's total foreign trade value, with an import and export value of 508.34 billion yuan, growing by 14.7% [4] Market Dynamics - ASEAN remains the largest trading partner for the province, with a total import and export value of 99.45 billion yuan, growing by 11.7%, followed by the EU at 98.58 billion yuan, which grew by 20.1% [4] - Trade with countries involved in the Belt and Road Initiative reached 353.04 billion yuan, increasing by 14.3%, while trade with other RCEP member countries was 218.77 billion yuan, growing by 14.9% [4] Export Trends - The trend of exporting "new, intelligent, and green" products is becoming more pronounced, with mechanical and electrical products exported valued at 317.23 billion yuan, a growth of 28.6%, accounting for 65% of total exports [4] - Exports of "new three samples" products (electric vehicles, lithium batteries, photovoltaic products) reached 23.35 billion yuan, increasing by 163.2%, with electric vehicle exports alone valued at 21.35 billion yuan, growing by 254.4% [4] Consumption and Import - The import of consumer goods reached 16.03 billion yuan, growing by 13.4%, accounting for 6.3% of total imports, with significant increases in textiles, food, and daily chemical products [5] - Imports of mechanical and electrical products totaled 153.87 billion yuan, growing by 5%, while metal ores and grain imports increased by 4.5% and 3.3%, respectively [5] Trade Facilitation - The five comprehensive bonded zones in the province had a combined import and export value of 402.92 billion yuan, growing by 19.7%, accounting for 54.4% of the province's total import and export value [5] - The province's free trade pilot zone recorded an import and export value of 74.73 billion yuan, increasing by 6.2%, while four bonded logistics centers had an import and export value of 6.27 billion yuan, growing by 65.3% [5]

Core Insights - In the first ten months of the year, Henan Province's total import and export value reached 741.12 billion yuan, marking a year-on-year growth of 14.5%, surpassing the national growth rate by 10.9 percentage points [1] - Exports amounted to 488.17 billion yuan, an increase of 21.8%, while imports were 252.95 billion yuan, growing by 2.6% [1] - In October alone, the province's import and export value hit a monthly high of 97.81 billion yuan, reflecting a month-on-month increase of 5.2% [1] Trade Partners - ASEAN emerged as the largest trading partner for Henan, with a total trade value of 99.45 billion yuan, up 11.7% [1] - The EU ranked as the second-largest trading partner, with trade reaching 98.58 billion yuan, an increase of 20.1% [1] - Trade with countries involved in the Belt and Road Initiative totaled 353.04 billion yuan, growing by 14.3%, while trade with other RCEP member countries reached 218.77 billion yuan, up 14.9% [1] Export Composition - The export of electromechanical products was 317.23 billion yuan, representing a growth of 28.6% and accounting for 65% of total exports [2] - Notable growth was observed in agricultural machinery, machine tools, and industrial robots, with increases of 31.8%, 34.7%, and 200.3% respectively [2] - Exports of "new three samples" products reached 23.35 billion yuan, soaring by 163.2%, with electric vehicle exports alone amounting to 21.35 billion yuan, a remarkable growth of 254.4% [2] Import Composition - Imports of consumer goods totaled 16.03 billion yuan, increasing by 13.4% and accounting for 6.3% of total imports [2] - Specific categories such as textiles, food, and daily chemical products saw import growth rates of 29%, 19.9%, and 3.2% respectively [2] - Electromechanical product imports were valued at 153.87 billion yuan, growing by 5%, while imports of metal ores and grains increased by 4.5% and 3.3% respectively [2] Trade Platforms - The role of Henan's open platforms continues to be significant, with five comprehensive bonded zones collectively achieving an import and export value of 402.92 billion yuan, a growth of 19.7%, accounting for 54.4% of the province's total trade [2] - The province's free trade pilot zones recorded an import and export value of 74.73 billion yuan, growing by 6.2% [2] - Four bonded logistics centers in the province reported a substantial increase in trade, with a value of 6.27 billion yuan, reflecting a growth of 65.3% [2] Regional Performance - All 12 prefecture-level cities and the Jiyuan Demonstration Zone in Henan achieved positive growth in import and export activities during the first ten months [3]

Core Insights - In the first ten months of the year, Henan Province's total import and export value reached 741.12 billion yuan, a year-on-year increase of 14.5%, surpassing the national growth rate by 10.9 percentage points [1] - Exports amounted to 488.17 billion yuan, growing by 21.8%, while imports were 252.95 billion yuan, with a growth of 2.6% [1] - In October alone, the province's import and export value was 97.81 billion yuan, marking a month-on-month increase of 5.2%, the highest monthly value of the year [1] Trade Partners - ASEAN emerged as the largest trading partner for Henan Province, with a total trade value of 99.45 billion yuan, an increase of 11.7% [1] - The European Union ranked as the second-largest trading partner, with trade reaching 98.58 billion yuan, growing by 20.1% [1] - Trade with countries involved in the Belt and Road Initiative totaled 353.04 billion yuan, up by 14.3%, while trade with other RCEP member countries reached 218.77 billion yuan, increasing by 14.9% [1] Export and Import Products - The export of electromechanical products was 317.23 billion yuan, representing a growth of 28.6% and accounting for 65% of total exports [2] - Notable growth was observed in the export of agricultural machinery, machine tools, and industrial robots, with increases of 31.8%, 34.7%, and 200.3% respectively [2] - The export of "new three samples" products reached 23.35 billion yuan, growing by 163.2%, with electric vehicle exports alone amounting to 21.35 billion yuan, a staggering increase of 254.4% [2] Consumption and Other Imports - Imports of consumer goods totaled 16.03 billion yuan, growing by 13.4%, which accounted for 6.3% of total imports [2] - Specific categories such as textiles, food and beverages, and daily chemical products saw import growth rates of 29%, 19.9%, and 3.2% respectively [2] - Electromechanical product imports were valued at 153.87 billion yuan, with a growth of 5%, while imports of metal ores and grains increased by 4.5% and 3.3% respectively [2] Open Platforms - The role of Henan's open platforms continues to strengthen, with five comprehensive bonded zones collectively achieving an import and export value of 402.92 billion yuan, a growth of 19.7%, accounting for 54.4% of the province's total trade [2] - The province's free trade pilot zones recorded an import and export value of 74.73 billion yuan, growing by 6.2% [2] - Four bonded logistics centers in the province reported an impressive growth of 65.3%, with a total trade value of 6.27 billion yuan [2] Regional Performance - All 12 prefecture-level cities and the Jiyuan Demonstration Zone in Henan Province achieved positive growth in import and export activities during the first ten months [3]

11月13日，商务部召开例行新闻发布会。新闻发言人何亚东表示，本届进博会成交额再创历史新高，达 834.9亿美元，同比增长4.4%。 下一步，将围绕"出口中国"十大主题活动细化方案，加强组织落实，通过主题国对接、区域特色对接、 重大展会对接、定向采购等方式，广泛搭建交流对接平台，切实便利更多国家的优质产品和服务进入中 国。 中国—东盟自贸区3.0版升级议定书签署 进博会期间，许多参展的中国和东盟国家企业对10月28日签署的中国—东盟自贸区3.0版升级议定书高 度关注。对于议定书，为什么企业的关注度这么高？下一步还有哪些工作要做？ 何亚东介绍，中国—东盟自贸区3.0版升级议定书的签署，是双方合作的重要里程碑，标志着双方经济 一体化进程从传统的贸易投资自由化便利化拓展至数字、绿色、标准、产供链等新兴领域。 商务部正在加快推进议定书的国内核准工作，与东盟方共同努力推动议定书尽早生效实施。"希望各地 方、各行业结合实际，指导帮助企业了解好、理解好、利用好中国—东盟自贸区新规则新机遇，真正从 中受益。"何亚东说。 1~10月上海市实现进出口3.7万亿元 上周，支持上海国际贸易中心提质升级工作推进会在上海举行。近年来，上 ...