中国_10 月出口降幅超预期_预计年底温和复苏-China_ October exports fell more than expected_ Modest recovery expected into the year-end

J P M O R G A N Asia Pacific Economic Research 07 November 2025 China: October exports fell more than expected Modest recovery expected into the year-end Tingting Ge (852) 2800-0143 tingting.ge@jpmorgan.com Tongfang Yuan (852) 2800-0085 tongfang.yuan@jpmorgan.com Jiayi Li (852) 2800-5229 jiayi.c.li@jpmorgan.com JPMorgan Chase Bank, N.A., Hong Kong Branch China's October exports declined more than expected, with broad-based weakness across major destinations and product categories—one of the most disappointi ...