China's trade surplus has exceeded $1 trillion for the second consecutive year. The milestone was reached within the first 10 months of the year, arriving one month earlier than the record-breaking sum from last year. Official data shows the surplus reached $1.04 trillion during this period.
Goods exports soared by 35.2 percent in October from a year earlier, marking the second consecutive month that export growth exceeded 35 percent. Although this figure surpassed expectations of a 33.5 percent increase, it represented a slight slowdown from the 36.3 percent jump recorded in September.
The surge in exports continues despite global trade tensions and economic gloom. This trend highlights Beijing's growing reliance on overseas demand to bolster an economy currently hobbled by a property slump and subdued consumption, occurring alongside the biggest surge in imports since 2021.