【Text by Observers Network, Liu Bai】Amid the turbulent international trade situation, China's General Administration of Customs on October 13 released the trade situation for the first three quarters of the year, particularly the 8.3% year-on-year growth in September's exports, which marked the highest increase in six months, drawing attention from the outside world.

Bloomberg published an article on October 13, describing that despite the US increasing tariffs, China's exports remained strong, mainly due to a diversified market and manufacturing competitiveness, demonstrating the strong resilience of China's exports, and enhancing China's negotiation leverage in the Sino-US trade war.

Data released by the General Administration of Customs showed that, measured in US dollars, China's exports in September grew by 8.3% year-on-year, while imports increased by 7.4%, both far exceeding expectations, with a trade surplus of $90.5 billion.

The growth rate of September's exports exceeded the median forecast of 6.6% by economists, indicating that China's record-breaking export surge has not yet slowed down.

In addition, although the current tariff level of the United States on China is 25 percentage points higher than the global average, China's dominant position in manufacturing still supports its continued export flow.

"Despite the additional tariffs imposed by the US, China's exports remain resilient due to a diversified export market and strong competitiveness," said Michelle Lam, economist at Societe Generale for Greater China. "So far, the impact of US tariffs on overall trade has been limited, which may allow China to take a stronger stance in Sino-US trade negotiations."

On September 2, the first batch of Chinese-made Bogotá metro trains arrived in Colombia. Visual China

Analysts say that the strong demand from non-US markets means that Chinese companies may be less affected by the US President Trump's threat to further increase tariffs. Growth in overseas sales can also help boost the domestic Chinese economy.

China will release data on third-quarter economic activity on October 20. Most analysts expect economic growth to slow down compared to the first half of the year. However, the strong performance in the first two quarters almost ensures that China will achieve its annual growth target of about 5%.

Reuters also noted that China's import and export in September exceeded expected levels, with September's export growth of 8.3% surpassing the 6% increase expected in Reuters' survey.

The report said that as the world's second-largest economy, China has significantly achieved diversification of its export markets this year to withstand the impact of Trump's tariffs, helping GDP growth steadily move toward the target of about 5% for this year.

Julian Evans-Pritchard, analyst at Capital Economics, expressed concerns that the deterioration of Sino-US relations poses downward risks for the future economy.

Most analysts predict that the US and China will attempt to ease tensions in the coming weeks. Nomura Securities analysts said, "We believe that after testing each other's bottom lines, both sides may make concessions again."

Data also showed that China's exports to the US fell by 27% year-on-year in September, while exports to the EU, Southeast Asia, and Africa rose by 14%, 15.6%, and 56.4%, respectively.

Xu Tianchen, senior economist at The Economist Intelligence Unit, said, "There is no doubt that Chinese enterprises are actively exploring new markets by leveraging the relative cost advantage of their products."

He added that the proportion of the US in China's direct exports is now less than 10%. Although Trump's tariffs undoubtedly add pressure to China's export industry, the impact will not be as significant as before.

Wang Jun, vice director of the General Administration of Customs, told reporters at a press conference that overall, in the first three quarters, under the centralized and unified leadership of the Party Central Committee, all regions and departments have worked hard and strived, and the vast number of foreign trade enterprises have actively responded and innovated, demonstrating the resilience and structural optimization of China's foreign trade, achieving a simultaneous increase in quantity and quality, and the achievements are hard-won.

Wang Jun said, "At the same time, we should also see that the external environment remains severe and complex, and the uncertainties and difficulties facing foreign trade have increased. Coupled with the objective factors such as the high base last year, it will still require great efforts to stabilize foreign trade development in the fourth quarter."

This article is exclusive to Observers Network. Reproduction without permission is prohibited.

Original: https://www.toutiao.com/article/7560613241957712427/

Statement: This article represents the views of the author and is not necessarily endorsed by Observers Network. Welcome to express your opinion by clicking on the [Up/Down] buttons below.