Chinese Economy: General News, Updates and Discussions

[ety]

Any numbers put up by US and esp India should be taken with a grain of salt.

 

[Beijingwalker]

China’s economy accelerated in the July-September quarter on robust exports​

Updated 6:19 PM GMT+8, October 19, 2026

HONG KONG (AP) — China said Monday its economy grew 4.5% in the July-September quarter from a year ago fueled by robust exports, moving closer to meeting its official annual growth target for the year as trading partners seek to balance their trade deficits with the country.

Economic growth accelerated from the 4.3% year-on-year rate recorded in the April-June quarter, the slowest expansion in more than three years. Its economy expanded 4.6% in the first three quarters.

For the whole year, Chinese leaders have set a growth target of 4.5% to 5%, down from last year’s 5% expansion. Earlier this month, the International Monetary Fund trimmed its forecast for China’s 2026 economic growth to 4.5%, the lower end of Beijing’s goal.

“Domestic demand was weak, while trade grew strongly,” said Dave Chia, an economist at Moody’s Analytics. Exports will likely stay strong but global trade barriers remain a risk, he said.

China’s domestic demand has been weighed down by a yearslong downturn in its property market.

The headline official growth figure is becoming “an increasingly poor indicator of how the broader economy is performing,” said Max Zenglein, Asia Pacific senior economist at The Conference Board.

That’s because it masks “widening disparities across industries, regions, and households,” Zenglein said. Beijing faces difficult trade-offs and managing domestic imbalances may prove more challenging than dealing with external pressures, he added.

On Monday, Mao Shengyong, deputy head of China’s National Bureau of Statistics, cautioned of the economic challenges ahead. “The international environment is complex and volatile, the problem of insufficient domestic demand remains relatively prominent and the foundation for a stable, improving economy still needs consolidation,” he told a news conference.

With exports being one of the few bright spots, China is on track to surpass last year’s record $1.2 trillion trade surplus globally, after logging a 36% growth in exports last month and already a $938 billion surplus between January and September.

Elevated U.S. tariffs have hit some U.S.-China bilateral trade and forced China to look elsewhere, including Southeast Asia, Latin America and Europe. High-tech exports such as semiconductors and autos, including hybrid and electric vehicles, are among areas driving its export growth this year.

As China pursues self-sufficiency to help shield itself from Western export controls and trade uncertainties, it has built up massive domestic manufacturing capacities across industries such as solar and EVs, which are heavily subsidized by the government. But output was scaled up rapidly at a time of weakened domestic consumption, so many of these goods are shipped to overseas markets at competitive prices.

An export-reliant growth model that’s highly tech-driven has shown limited job creation and broad income gains while risks of artificial intelligence-driven labor displacements continue to grow, said Ecaterina Bigos, senior market strategist at BNP Paribas Asset Management.

China faces growing pressure from the EU to rebalance trade​

Many trade partners fear their domestic industries and economies face growing threats from lower-cost Chinese manufactured imports.

“It is untenable and unsustainable for the world’s second largest economy to rely on foreign demand to prop up its own growth,” said Eswar Prasad, a professor of economics and trade policy at Cornell University.

Through its persistent and large trade surpluses, China “has become a drag on world growth rather than an engine that pulls the rest of the world along,” Prasad said.

The European Union is among those impatient to reduce its trade imbalance with China. The 27-nation bloc runs a trade deficit with China of more than $1.1 billion a day.

For the first nine months of the year, Chinese exports to the EU were up 16%. EU countries are eyeing more curbs on China after the EU reached an agreement with China this month to roughly halve the number of Chinese hybrid vehicle imports over the next few years.

China can work with other countries on disputes and it wants to keep its market access, said Gary Ng, a senior economist for Asia Pacific at French bank Natixis. With a deal with the EU on hybrid cars, for example, China can likely still sell more made-by-China products in the longer run while avoiding a broad tariff hike.

Even with agreements made between China and the EU, “trade imbalances will be difficult to resolve quickly,” said Lynn Song, chief economist for Greater China at Dutch bank ING.

Policymakers say an undervalued yuan, China’s currency, against the dollar and the euro has contributed to China’s growing trade surplus, even though China’s central bank has dismissed the claims.

“We are likely to see continued resistance, rising protectionism, and persistent pressure from economies globally to protect their industries, and jobs, notably in high value sectors,” noted Bigos.

China insists that it does not seek a large trade surplus. Central bank governor Pan Gongsheng said Friday that countries with trade deficits and those with trade surpluses should work together, and that China, as a responsible country, is committed to expanding domestic demand.

https://apnews.com/article/china-economy-71354a055a412ef13e4e2edad070b4a5

 

[Beijingwalker]

Chinese Yuan: Strengthens against US Dollar on better China growth ​

10/19/2026 20:34:00 GMT

Brown Brothers Harriman’s Elias Haddad reports that USD/CNH has broken to fresh multi‑year lows near 6.6800 after stronger‑than‑expected China Q3 GDP, which keeps growth on track for the government’s 4.5%–5.0% 2026 target. BBH stresses that structural weaknesses in consumption and investment persist, but still sees the USD/CNH downtrend intact, supported by CNH internationalization and internal rebalancing.

Growth surprise but structural issues linger​

"USD/CNH broke to fresh multi-year lows near 6.6800. China’s economy grew more than expected in Q3 and is tracking the government’s 4.5% to 5.0% growth target for 2026. Real GDP was up 1.2% q/q (consensus: 1.0%) vs. 0.9% in Q2 and in the three quarters to the year printed at 4.6% y/y."

"China’s growth target is used as a policy tool to guide economic/social planning rather than a reflection of underlying supply and demand dynamic. That means the quality and sources of China’s growth is more relevant for investors."

"From that perspective, China’s long-term economic health remains weak because consumer spending is struggling to gain traction and non-residential fixed asset investment is an ongoing drag. In the first three quarters of the year, retail sales growth was unchanged at 1.1% y/y vs. 1.1% in August, and fixed asset investment growth excluding real estate development fell -4.2% y/y vs. -4.2% in August."

"Regardless, USD/CNH downtrend is intact in our view reflecting both CNH internationalization potential and China’s internal rebalancing story."

Chinese Yuan: Strengthens against US Dollar on better China growth – BBH | FXStreet

Brown Brothers Harriman’s Elias Haddad reports that USD/CNH has broken to fresh multi‑year lows near 6.6800 after stronger‑than‑expected China Q3 GDP, which keeps growth on track for the government’s 4.5%–5.0% 2026 target. BBH stresses that structural weaknesses in consumption and investment...

www.fxstreet.com

 

[Beijingwalker]

 

[冖_冖]

China's Unlisted Rare Earth Oxide Imports Surge 23% in September, Driven by Myanmar Supplies - Shanghai Metals Market (SMM)

China's unlisted rare earth oxide imports rose 23% month-on-month in September 2026, driven by increased shipments from Myanmar, which supplied 70% of the total. Imports from Laos declined, while...

news.metal.com

China's Unlisted Rare Earth Oxide Imports Surge 23% in September, Driven by Myanmar Supplies​

Published: Oct 21, 2026 18:26 (GMT+8)

According to the latest data from the General Administration of Customs, China imported 5,021 t of unlisted rare earth oxides in September 2026, up 23% month on month from 4,070 t in August and up 2% from 4,909 t a year earlier. Cumulatively, January-September imports reached 46,466 t, up 14% year on year, easing from 16% growth in the first eight months.

The September increase came almost entirely from Myanmar. Shipments from Myanmar rose to 3,509 t from 1,346 t in August, accounting for about 70% of the month's total; arrivals from Laos fell to 1,369 t from 2,602 t, cutting its share to 27%; Malaysia supplied 138 t, while other origins were effectively nil. Together, Myanmar and Laos accounted for more than 97% of September imports. The heavy concentration on Southeast Asia is unchanged, but the shift between the two countries now dictates the month-to-month swings in the headline figure.

Two factors underpinned the rebound. On one side, the impact of the Southeast Asian rainy season faded, improving mine shipments and border crossings from Myanmar and allowing the previously slow arrival pace to recover. On the other, domestic smelting and separation utilisation rates continued to recover gradually, steadily releasing demand for ion-ore feedstock. The drop in Lao shipments partly offset the Myanmar increase, which is why September's YoY gain was limited to 2%, well below the pace seen in earlier months.

For the fourth quarter, with the rainy season behind the market and feedstock inventories at separation plants being drawn down, unlisted rare earth oxide imports look set to hold around 5,000 t. But with supply concentrated in Myanmar and Laos, changes in border policy, mine operations or transport conditions in either country could still produce sizeable monthly swings; whether cumulative growth stays in double digits will depend on the durability of Myanmar shipments and the pace at which domestic separation plants ramp up.

 

[冖_冖]

HP and Asus shift some PC making back to China due to AI-driven cost hikes

Emerging contract manufacturers reap benefits of supply-chain strategy reversal

asia.nikkei.com

AI Drives Up Memory Costs, Prompting HP, Asus and Acer to Shift Some PC Output Back to China — BigGo Finance

Driven by artificial intelligence demand, memory and storage components are in severe shortage, sending bill-of-materials costs climbing rapidly. HP,…

finance.biggo.com

AI Drives Up Memory Costs, Prompting HP, Asus and Acer to Shift Some PC Output Back to China​

The memory and storage component shortage triggered by artificial intelligence demand is forcing the world's major personal computer makers to adjust their production footprints. According to Nikkei Asia, HP, Asus and Acer are moving some capacity originally located in Thailand and Vietnam back to China while bringing in a new generation of Chinese contract manufacturers, in response to rapidly rising bill-of-materials costs.

Several people familiar with the matter said the cost increase is not limited to memory chips, with prices of other components also rising sharply, making it increasingly difficult for PC makers to absorb the increases themselves. The people said China remains the best choice for computer manufacturing because of its experienced workforce, more competitive pricing and a supply chain ecosystem that can provide complete component sourcing channels.

The report also noted that these manufacturers are turning to lesser-known Chinese contract manufacturers because capacity at the larger ODMs is increasingly being taken up by more profitable AI data center server orders. Dell, the world's third-largest PC maker, is also evaluating similar adjustments; it ranks behind only Lenovo and HP.

A chip industry executive who supplies all major PC manufacturers said: "This move is indeed driven by cost pressure." He noted that prices are rising very rapidly not only for memory chips but for other components as well, and that the main reason PC makers are moving some production back to China and working with more Chinese contract manufacturers is that the latter can offer highly competitive prices. The executive also said PC makers may further expand the scale of the shift back to China if the cost environment does not improve.

An Acer spokesperson said in response: "We dynamically adjust our supply chain operations to enhance supply chain resilience and remain competitive. We have always worked with multiple manufacturers and suppliers, maintaining a flexible adjustment strategy, and have done so for many years." As of publication, HP, Dell and Asus had not commented.

The adjustment comes against the backdrop of the AI computing buildout continuing to crowd out upstream memory resources. Heavy procurement of high-bandwidth memory and enterprise solid-state drives by data centers has squeezed the supply of consumer PC components, transmitting upward price pressure to the assembly stage. Over the past several years, PC makers shifted some capacity from China to Vietnam, Thailand and elsewhere to diversify geopolitical and tariff risks; now cost factors are partly offsetting the economics of that arrangement.

 

[Beijingwalker]

Welcome to the new ‘Made in China’​

By Joe Cash, Kripa Jayaram, Lewis Jackson and Mayank Munjal
Published Oct. 29, 2026 7:00 a.m. GMT+8

Welcome to the new ‘Made in China’

How China went from selling clothes to cars

www.reuters.com

 

[The SC]

 

[ety]

China's National Development and Reform Commission (NDRC) officially updated targets for its six emerging pillar industries to surpass 10 trillion yuan (roughly $1.4 trillion USD) in total output value by 2030, which is the conclusion of the 15th Five-Year Plan period (2026–2030). [1, 2]

The Six Emerging Pillar Industries

These six sectors neared an output value of 6 trillion yuan in 2025 and are projected to nearly double their collective size over the next five years: [1]

1. Integrated Circuits (IC): Focusing heavily on advanced-node manufacturing,
electronic design automation (EDA) software, and semiconductor equipment.
Production in this sector grew to 442.8 billion units in the first three quarters of 2026
alone (a 23.3% year-on-year increase). [1, 2]

2. Aerospace & Aviation: Targeted advancements in commercial spaceflight,
satellite constellations, and advanced avionics. [1]

3. Biomedicine: Centered on high-end biomanufacturing and advanced
pharmaceutical R&D. Out-licensing deals for innovative Chinese drugs reached
roughly $130 billion USD in the first three quarters of 2026. [1, 2, 3]

4. Low-Altitude Economy: Commercializing unmanned aerial vehicles (UAVs),
electric vertical takeoff and landing (eVTOL) technology, and expanding regional
logistics networks. [1, 2]

5. New-Type Energy Storage: Accelerating the rollout of grid-scale battery systems,
hydrogen storage, and next-generation green power distribution grids. [1, 2]

6. Intelligent Robotics: Pushing the boundaries of industrial robots and AI-integrated
factory automated manufacturing systems. [1, 2]

---

Paralleled Development of "Future Industries"

In addition to the immediate pillar industries, the NDRC highlighted seven cutting-edge fields earmarked as the country's next-tier industrial growth engines: [1]

• • Quantum Technology
  • Bio-manufacturing (e.g., organoids and sustainable bio-plastics)
  • Hydrogen & Nuclear Fusion Energy
  • Brain-Computer Interfaces (BCI)
  • Embodied Intelligence & Humanoid Robots
  • 6G Communications [1, 2, 3]

 

[Beijingwalker]

 

[ety]

Chinese dredgers are selling like hotcakes overseas! Exports from African mines to European and American yards account for more than half of total sales.​

Written by: Xu Qi'an
publishing: 2026-11-08 14:15 renew: 2026-11-08 14:16

In early November, in the high-altitude mining area of Batken Region, Kyrgyzstan, the valleys were deep and steep, and the wind was biting cold. On a layer of hard permafrost, multiple LiuGong excavators were continuously digging earth. In the extreme environment at an altitude of nearly 4,000 meters, these machines have maintained stable operation with zero failures for several months, winning high praise from local construction workers and drivers.

The bustling scene at this high-altitude construction site is a microcosm of the success of Chinese construction machinery in overseas markets this year. Official statistics show that in the first three quarters of this year, China's excavator exports approached 110,000 units, a year-on-year increase of 30.4%, accounting for 51.2% of total excavator sales during the same period. This means that overseas markets have officially become half of China's construction machinery market. From large open-pit coal mines in Africa and infrastructure projects in Southeast Asia to the backyard lawns of European and American homes, Chinese excavators have not only unlocked enormous growth potential overseas but are also driving Chinese manufacturing from simply exporting equipment to comprehensive industrial and ecological co-construction.

A photo taken on September 2 shows the production line at LiuGong's smart excavator factory in Liuzhou, Guangxi. (Xinhua)

The continued success of Chinese equipment sales overseas is underpinned by the accelerated development of infrastructure and mineral resources in emerging markets. More importantly, it stems from the differentiated advantages that Chinese manufacturing has established in delivery efficiency, product quality, and electrification and intelligentization. At Moatize, Mozambique's largest coal mine, ten 130-ton pure electric excavators developed by XCMG Group are operating at full capacity, with specially designed cables at the rear of the machines directly connected to the mine's power supply.

Yang Yang, XCMG Group’s country manager in Mozambique, pointed out that the continued surge in international diesel prices this year has prompted mining companies to accelerate the “oil-to-electric” conversion. Pure electric motors are not only low-noise and powerful, but can also be connected to the mine’s smart platform to achieve real-time fault warnings. This not only significantly reduces mining costs, but also helps large local mines achieve green mining.

The large-scale deployment of pure electric equipment in remote areas is thanks to increasingly comprehensive energy infrastructure support. In response to extreme environments without grid power access, companies like LiuGong have built microgrid systems on-site, integrating photovoltaic power generation, energy storage, charging, and mobile power transmission. During the day, the system relies on direct photovoltaic power generation, while at night, energy storage seamlessly takes over, ensuring stable operation of the equipment around the clock.

Electrification has become the most important driver of growth in the industry. XCMG's electric excavator exports surged 243% year-on-year in the first seven months, Sany Heavy Industry signed a large order for 200 new energy excavators in Southeast Asia, and Sunward Intelligent successfully delivered its 70-ton large electric excavator to overseas customers. Yuan Zhen, Secretary-General of the Changsha Construction Machinery Industry Association, stated that China has already achieved a global first-mover advantage in the fields of electrification and grid integration, and "electric-intelligent integration" is expected to become a new calling card for China's construction machinery industry.

This is the LiuGong excavator smart factory located in Liuzhou, Guangxi. Some of the factory's products are sold to overseas markets. (Xinhua)

While large excavators are conquering large-scale mines, the compact and agile "mini excavators" are carving out a new niche in the European and American consumer markets. In the production workshop of Shandong Jining Lipai Machinery Group, rows of mini excavators weighing approximately one ton are rolling off the production line. In the first three quarters, the company exported about 25,000 mini excavators, with the European and American markets accounting for a staggering 75%.

This mini excavator giant, when it was founded 14 years ago, had its core product as children's sand-digging toys for playgrounds. Gao Shengtong, Deputy General Manager of Lipai Machinery, revealed that the company underwent two key transformations: first, shifting from toys to small construction machinery, and then, in 2017, boldly venturing overseas into Europe and America, expanding its product range to over 1,000 specifications to precisely meet the DIY needs of European and American families for gardening, swimming pool construction, and basement renovations.

From behemoths weighing hundreds of tons to mini excavators capable of drilling into basements, their flexible manufacturing is supported by China's complete supply chain and innovation chain. Taking the "multi-way valve," a key component of the hydraulic system, as an example, through collaborative efforts across the upstream and downstream of the industrial chain, domestically produced mini multi-way valves have achieved small size and high reliability, and the local supporting rate for mainstream mini excavators ranging from 1 to 8 tons is now close to 100%.

Meanwhile, innovative sales models have also fueled a surge in orders. Shandong Huayi Holdings quickly signed a contract with a Norwegian influencer to become their Nordic agent after the influencer's unboxing and demo video went viral overseas. The company also transformed its production workshop into a cross-border e-commerce live streaming studio, attracting overseas buyers to connect and inquire about prices in real time. This led to a year-on-year increase of over 30% in the company's revenue in the first three quarters.

As its globalization strategy enters a more sophisticated phase, China's equipment manufacturing industry has evolved from simply exporting products to deeply cultivating local markets. About 80 kilometers west of Frankfurt, Germany, Zoomlion's Wilbert factory, covering over 60,000 square meters, operates as its European hub, connecting its R&D, marketing, and after-sales service network across Europe. Zoomlion now has more than ten overseas manufacturing bases in Germany, Hungary, Brazil, and other locations, with a global service network exceeding 530 outlets.

This is the LiuGong excavator smart factory located in Liuzhou, Guangxi. Some of the factory's products are sold to overseas markets. (Xinhua)

At a rural road construction site in Mozambique, Sany Heavy Industry's service team not only ensured the smooth operation of dozens of machines, but also provided systematic training to its more than 1,000 local employees directly employed in Africa, making them the backbone of the local modern manufacturing industry.

The strategy of cultivating overseas markets has been fully translated into impressive financial results. In the first half of this year, Sany Heavy Industry's overseas revenue accounted for more than 60%, with revenue growth in Africa reaching 47.66%; LiuGong's overseas revenue increased by 22.66% year-on-year in the first half of the year, with growth rates in Africa and the Asia-Pacific region both exceeding 30%; Zoomlion's business has expanded to more than 170 countries and regions around the world.

From extreme working conditions in frigid polar regions to consumer-grade living scenarios in European and American courtyards, Chinese excavators are writing a deeper chapter of cooperation and win-win in the global market.

中國挖泥機海外賣爆！從非洲礦山到歐美庭院　出口佔總銷量逾半

11月初的吉爾吉斯（吉爾吉斯斯坦）巴特肯州高原礦區，山谷深陡且寒風刺骨。在一片堅硬的凍土層上，多台柳工挖掘機正持續開挖土方。在海拔接近4,000

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