{"text":[[{"start":10.547,"text":"China’s exports surged 36.3 per cent in dollar terms last month on a year earlier, underlining the country’s deepening dependence on trade for economic growth and escalating tensions with important partners such as the EU."}],[{"start":22.925,"text":"The country’s export growth in September exceeded the previous month’s figure of 25 per cent and median forecasts from analysts polled by Bloomberg of 25.7 per cent as shipments of electronics related to AI boomed."}],[{"start":37.219,"text":"The increase was the biggest since January-February 2021, when China reported a 60.2 per cent rise in exports during the Covid pandemic. China reports January and February figures together because of the lunar new year holiday."}],[{"start":52.2,"text":"The sharp growth in exports produced a trade surplus of $938.1bn for the first nine months of this year, up from $875.1bn during the same period in 2025, putting China on track to surpass last year’s annual record of $1.2tn."}],[{"start":69.829,"text":"Soaring Chinese exports have stoked tensions with trading partners, which fear that low-cost Chinese goods flooding their markets will outcompete domestic industries and result in job losses."}],[{"start":82.4,"text":"China’s dollar-denominated imports, meanwhile, rose 31 per cent year on year in September, official data from China’s General Administration of Customs showed on Wednesday, compared with a 28.2 per cent the previous month and analyst forecasts of 25 per cent. Rising oil prices have pushed up China’s import bill."}],[{"start":99.952,"text":"The data release followed an agreement last week between Beijing and Brussels to impose a quota on imports of Chinese hybrid vehicles. China’s trade surplus with the EU has hit nearly €1bn a day in 2025 and has increased since. Vehicles and machinery were the biggest contributors to the surplus."}],[{"start":null,"text":"
"}],[{"start":118.67,"text":"The figures also underline China’s growing dependence on exports to offset a domestic economy that is suffering from weak demand following a prolonged property slowdown."}],[{"start":128.358,"text":"China’s economy expanded 4.3 per cent in the second quarter, one of its lowest quarterly growth rates in decades and below the low end of its full-year target band of 4.5-5 per cent. The country is set to report third-quarter economic growth on Monday."}],[{"start":143.5,"text":"Wang Jun, deputy commissioner of the General Administration of Customs, said China’s commerce “provided a powerful boost to global trade and economic growth” during the first nine months."}],[{"start":153.969,"text":"The international environment was challenging given that “geopolitical conflicts continue to disrupt the global economic and trade order, while trade protectionism and unilateralism are on the rise”, he said."}],[{"start":166.311,"text":"But the global economy was resilient, Wang added, predicting that China’s trade would “maintain steady growth”."}],[{"start":175.28,"text":"The blockbuster trade performance is in contrast to the more subdued conditions in the domestic economy."}],[{"start":180.32,"text":"The National Bureau of Statistics reported on Wednesday that the consumer prices index rose 0.9 per cent in September, compared with 0.8 per cent in August. Producer prices were up 5 per cent, against 3.8 per cent the previous month."}],[{"start":196.92,"text":"The rises, particularly in factory-gate prices, were driven by higher energy and fossil fuel-related costs due to the crisis in the Middle East, analysts said, rather than a surge in domestic demand."}],[{"start":208.053,"text":"Goldman Sachs predicted ahead of the release of the figures that higher oil prices would push CPI higher while higher commodity prices were driving PPI increases."}],[{"start":223.82,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1791951661_4820.mp3"}