November 7, 2023

China's imports and exports returned to growth in the first ten months of 2023, with exports in October falling and imports growth beating expectations, Chinese official data showed on Tuesday, indicating that the world's biggest trading remains resilient despite a global trade slump and economic downturn.

While exports evidently remain under pressure, an unexpectedly strong growth in imports in October underscored the steady recovery in China's domestic demand, which has become a top priority for Chinese policymakers in boosting high-quality growth and offers a growth spot for global businesses desperately seeking market opportunities amid worldwide downward pressure. 

Global confidence in China's economic prospect remains solid, as shown at the ongoing China International Import Expo (CIIE), where thousands of businesses from around the world showcased their products and services in search of opportunities in the Chinese market. International organizations, such as the IMF, also raised forecasts on China's economic growth citing "strong post-COVID recovery." Economists noted that while challenges and risks linger, growing positive factors, especially supportive policy measures, will ensure stable growth. 

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https://www.globaltimes.cn/page/202311/1301364.shtml