China's Exports Growth to ASEAN and EU Offset Shipment Weakness to U.S.

Li Chen
08 Sep, 2025
Hong Kong

Stocks in China and Hong Kong lacked direction after a week of sharp sell-offs, and investors reviewed the latest updates on international trade. 

The Hang Seng index increased 0.4%, and the CSI 300 index edged up a fraction amid growing caution about future market gains. 

In a busy week of economic data releases, investors are looking forward to the release of inflation data on Wednesday, which is likely to confirm the ongoing deflationary trend.

 

China's Goods Exports Growth Slowed In August

China's international trade continued to expand at a slower pace in August, and the trade surplus rose despite the U.S. tariff headwinds. 

Exports increased 4.4% from a year ago to $321.8 billion, imports edged up 1.3% to $219.5 billion, and the trade surplus expanded to $102.3 billion, according to the customs data released on Monday.

Direct exports to the U.S. continue to decline at an accelerated pace following the sharp escalation in U.S. import duties, offset by the rising shipments to the ASEAN region, Latin America, and the European Union.

Goods shipments to the U.S. in August plunged 33.1% compared to 21.7% in July from a year ago, respectively. 

However, shipments to Vietnam soared 31%, and shipments to ASEAN member nations jumped 22.5%, largely driven by the demand surge from the U.S. because of the new tariff regime. 

Goods shipments to the European Union advanced 10.4% from a year ago in August after rising 9.4% in the previous month. 

For the first eight months of 2025, China's goods exports increased 5.9% to $2.45 trillion, driven by the shipments to ASEAN countries increasing by 14.6%, to India by 12.8%, and to the European Union by 7.5%. 

During the period, goods shipment to the U.S. fell 15.5% from a year ago. 

The front-loading of exports to the U.S. and China's push to develop markets in other regions of the world amid a slowing domestic economy have been behind the resilience of overall goods exports in 2025. 

 

China Indexes and Stocks 

The Hang Seng index increased 0.4% to 25,523.20, and the mainland-focused CSI 300 index added 0.1% to 4,462.79. 

JD Logistics Ltd. advanced 2.4% to HK$13.41, JD.com increased 0.5% to HK$122.70, and Alibaba Group advanced 3.7% to HK$136.70.