China’s trade surplus exceeds $1 trillion in first 10 months — Pajhwok

KABUL (Pajhwok): China’s trade surplus reached $1.04 trillion in the first 10 months of this year, an increase that analysts say has been driven partly by rising global demand for advanced products and artificial intelligence-related equipment. Reuters reported that, according to Chinese customs data released on Tuesday, the country’s exports rose by 35.2 percent in October compared with the same month last year. This followed a 36.3 percent increase in Chinese exports in September. China’s imports also rose by 41.6 percent year-on-year in October, exceeding economists’ forecasts, the report said. The report added that increased exports of high-tech products, alongside a global investment boom in artificial intelligence infrastructure, had boosted China’s foreign trade and partly offset weak domestic demand. However, the growing trade surplus has raised concerns among China’s trading partners, particularly the European Union and the United States, increasing the likelihood of further trade restrictions. Meanwhile, China’s trade surplus with the United States stood at $32.71 billion in October, down from $34.01 billion in September. The report comes as China and the United States on Monday extended their trade truce for another two months. The presidents of the two countries are scheduled to meet next week at the Asia-Pacific Economic Cooperation (APEC) summit in Shenzhen. Despite export growth, weak domestic consumption, the prolonged property market crisis and declining domestic…