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British media said that most of China's exports to emerging economies in November showed improvement, especially the year-on-year growth rate of exports to ASEAN was as high as double digits, indicating that export destinations are more diversified and dependence on the US market is declining.
According to a Reuters report on December 8, analysts predict that export growth may show a slight positive increase next year.
Wang Jun, chief economist of Central Plains Bank, said that the structure of the import and export market has been further improved, and the trend of market diversification is more obvious. Imports and exports to major markets such as the EU and ASEAN have increased, and the growth rate of imports and exports to countries along the “Belt and Road” has been higher than the overall. At the same time, the dependence on trade with the United States has further reduced, and the uncertainty of future trade frictions will still affect the scale and growth of trade with the United States.
The report pointed out that the import rebound in November was more obvious, and it turned from falling to rising, mainly due to the further increase in domestic stable growth measures, coupled with the warmer weather, the start of infrastructure construction in various places is full, driving imports to rebound rapidly.
According to the data of the General Administration of Customs of China, in the month of November, China's total value of imports and exports was 2.86 trillion yuan (RMB, the same below), an increase of 1.8%. Among them, exports were 1.57 trillion yuan, an increase of 1.3%; imports were 1.29 trillion yuan, an increase of 2.5%; the trade surplus was 274.21 billion yuan, narrowing by 4.1%.
Analysts point out that various data show that China's trade structure is constantly improving. In the first 11 months, the EU, ASEAN, and the United States were China's top three trading partners, with total foreign trade value increasing by 7.7%, 12.7%, and decreasing by 11.1%.