China says trade surplus surpassed US$1tn in October

China's trade surplus exceeded US$1 trillion for a second year in a row, according to official data released on Tuesday. The nation's foreign trade in goods maintained strong growth momentum in the first 10 months of 2026, with imports posting especially robust gains, according to official data. Total imports and exports grew 20 percent year on year over the period, accelerating from 18.8 percent in the first nine months, according to the General Administration of Customs (GAC). Exports jumped 35.2 percent year-on-year to US$412.3 billion last month, according to the GAC, while imports in October expanded 41.6 percent to US$307.1 billion. Between January and October, the country logged a US$1.04 trillion trade surplus, even as the trade surplus narrowed last month to US$105.3 billion from US$133.5 billion in September as imports picked up pace. Analysts expect China to surpass the record US$1.2 trillion surplus it hit last year. “We expect Chinese exports to stay strong for the rest of this year, led by electronics and autos,” said Dave Chia, an economist at Moody’s Analytics. Meanwhile, exports to the United States surged 32.9 percent last month, the GAC data showed. The figures come ahead of another meeting between President Xi Jinping and his US counterpart...