China's Exports Contracted In October as U.S. Shipments Plunged 25%

Li Chen
07 Nov, 2025
Hong Kong

China's stocks traded down, and investors reviewed the latest update on international trade. 

The Hang Seng Index decreased 1.6%, and the mainland-focused CSI 300 index declined 0.2% amid growing uncertainty about the U.S.-China trade relations. 

China's exports in October fell as the U.S. customers halted front-loading to avoid steep tariffs. 

Exports decreased 1.1% to $305.5 billion, and imports advanced 1% to $215.8 billion, resulting in a trade surplus of $90.1 billion, according to the National Bureau of Statistics. 

October's exports slowed sharply from an 8.3% annual increase in September, following a 25% plunge in shipments to the U.S. 

China's exports to the world's largest economy contracted in double digits for the seventh consecutive month in October.  

Imports from the U.S. dropped nearly 23%, as China shifted purchases of its agriculture products to Brazil, Argentina, and Peru. 

U.S. businesses have been stockpiling ahead of the implementation of aggressive U.S. tariffs and constantly changing U.S. trade policy. 

However, those orders have dried out as U.S. businesses shift their focus to the domestic economy amid worries of weakening consumer demand, rising logistics costs, and higher investments in inventories. 

The statistical bureau is set to release country- and sector-based breakdowns of exports on November 20. 

Rare-earth mineral exports in the period increased 8.6% by volume in October from the previous month to 4,343.50 tons. 

However, semiconductor chip exports in October decreased 15%, and imports declined 9.5% by volume from the previous month, respectively. 

Despite the elevated trade tensions with the U.S., China's overall exports increased 5.3% in the first ten months to October, the data from NBS showed.  

In the period, exports to the U.S. dropped 17.8%, the ASEAN region advanced 14.3%, the European Union increased 4.0%, Japan increased 7.5%, and Africa 26.1%. 

China's goods trade surplus advanced 23% from a year ago to $964.8 billion in the first 10 months to October. 

 

China Indexes and Stocks 

The Hang Seng Index decreased 1.6% to 26,184.19, and the mainland-focused CSI 300 index declined 0.2% to 4,683.66. 

For the week, the Hang Seng index trimmed gains to 1%, and the CSI 300 index advanced 1.3% amid fragile market sentiment and volatile tech stocks. 

Alibaba Group Holding decreased 2.8% to HK $160.40, Tencent Holdings dropped 2.1% to HK $631.0, Baidu Inc. eased 1.2% to HK $123.50, and Kuaishou Technology declined 5.7% to HK $68.45.