China's October trade surplus hits new high
China's trade surplus exceeded $938 billion during the first nine months of the year, nearing one trillion dollars, driven by a record 36% surge in exports in September compared to the same month last year. This was accompanied by a 31% increase in imports, leading to a significant expansion of the trade surplus, with expectations that it will surpass one trillion dollars in October—a figure that had only been achieved previously in November of last year. This growth is attributed to a rise in global demand for technological products, especially electronic chips, despite a decline in domestic demand and tensions in trade relations with some partners like the European Union and the United States.
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