中国观察：供给充足，需求不足-Asia Views_ Supply proficient, demand deficient

18 November 2025 | 7:46AM HKT Economics Research Asia Views: Supply proficient, demand deficient 1. We recently upgraded our forecast for China's export growth and overall economic growth through the end of the decade, for three main reasons. First, export momentum has been robust most of this year (Exhibit 1). Even after a (largely anticipated) weak October, exports are still up in volume terms on 2024, and grew at a double-digit pace much of the past two years. While that pace is unlikely to be matched in ...