BEIJING — China's trade surplus surpassed $1 trillion in the first 10 months of the year, driven by a global artificial intelligence infrastructure boom that boosted high-tech exports and offset subdued domestic demand, according to customs data released on Tuesday.
AI Infrastructure Powers Surging Exports
Customs figures for October showed that exports rose 35.2% in US dollar terms from the same period last year, following a 36.3% increase in September and exceeding economists' forecasts. For the first 10 months, China's trade surplus reached $1.04 trillion, crossing the $1 trillion threshold a month earlier than it did in the previous year. High-tech shipments climbed 47.9% over the 10-month period, while semiconductor exports surged 111.1% year-on-year.
The reliance on overseas markets helps offset persistent weakness at home, where a prolonged property market slump and cautious consumer spending have weighed on the domestic economy. Meanwhile, imports grew 41.6% in October compared to the previous year, accelerating from September's 31% growth and beating analyst expectations.
Global Trade Tensions and Upcoming Diplomacy
The widening surplus arrives ahead of the Asia-Pacific Economic Cooperation summit in Shenzhen, where Chinese President Xi Jinping and US President Donald Trump are scheduled to hold their third meeting of the year to discuss economic ties and tariffs. On Monday, Beijing and Washington formally extended a bilateral trade truce by two months. China's trade surplus with the US narrowed slightly to $32.71 billion in October.
The export surge also risks intensifying friction with the European Union, which recently reached an agreement with Beijing to limit Chinese hybrid vehicle exports over the next few years. Analysts note that while AI-related demand is projected to remain robust into 2027, deeper dependence on external markets leaves China increasingly vulnerable to foreign protectionist measures and potential trade barriers.
