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中国_2025 年贸易收尾强劲;对 2026 年出口持谨慎观点,但上行潜力仍存-China_ trade ended 2025 strongly; we hold a cautious view on 2026 exports, yet upside potential endures
2026-01-20 01:50
Tingting Ge (852) 2800-0143 tingting.ge@jpmorgan.com JPMorgan Chase Bank, N.A., Hong Kong Branch Jiayi Li (852) 2800-5229 jiayi.c.li@jpmorgan.com Tongfang Yuan (852) 2800-0085 tongfang.yuan@jpmorgan.com Asia Pacific Economic Research J P M O R G A N 16 January 2026 Greater China China's export strength—which drove most of 2025's upward growth forecast revisions despite tariff uncertainties—persist- ed through year-end, while imports rebounded on a surge from the EU and Korea. Loan growth stabilized as expec ...