China's Goods Trade Surplus Surpassed $1 Trillion as Exports Returned to Growth

Li Chen
08 Dec, 2025
Hong Kong

Stock market indexes in China and Hong Kong diverged, and investors awaited signals on 2026 economic priorities from top policymakers.

The Hang Seng Index declined 1%, and the mainland-focused CSI 300 index increased 1.1% amid cautious market sentiment at the start of a new week. 

Broader markets in China and Hong Kong struggled to advance last week and traded sideways as investors debated the U.S. rate path and possible stimulus measures focusing on consumption, technology, and the residential property market in China. 

China's Central Economic Work Conference, chaired by President Xi Jinping, is an annual platform where policymakers announce social and economic priorities for the next year. 

President Xi is expected to announce policy outlines and economic goals for the 15th five-year plan ending in 2030, as the world's second-largest economy battles slowing economic growth, persistent weakness in the residential property market, and weakening consumer spending growth. 

 

China's Goods Exports Growth Rebounded In November, ASEAN Shipments Surged 8%.

China's exports rose at a faster-than-expected pace in November, and the trade surplus soared to $1 trillion for the first time. 

Exports advanced 5.9% to $330.3 billion in November, reversing a 1.1% decline from the previous month, as exports to non-U.S. markets continued to rise. 

Shipments to the ASEAN region soared 8.2%, to the European Union jumped 14.8%, and to Japan advanced 4.3%, but slumped by 28.6% to the U.S. 

U.S. importers pulled forward orders between April and June, ahead of the implementation of steep tariffs, and avoided holiday-period disruptions. However, the shipment growth supported by the front loading appears to have run its course. 

Imports increased to $218.7 billion, an annual increase of 1.9% compared to 1% in the previous month.  

The international goods trade surplus expanded to $111.7 billion from $90.1 billion, as weakening prices of crude oil dampened the overall imports bill. 

In the first eleven months to November, China's goods exports increased 5.4% to $3.4 trillion, driving the trade surplus to $1.1 billion.  

 

China Indexes and Stocks 

The Hang Seng Index declined 1% to 25,797.95, and the CSI 300 index advanced 1% to 4,632.29. 

Suzhou Novosense Microelectronics plunged more than 7.5% to HK $108.10, and the company listed its stock on the Hong Kong Stock Exchange. 

The fabless designer of advanced chips for automotive and industrial applications priced its initial public offering at HK $116.0 per share, sold 19.1 million shares, and raised gross proceeds of HK $2.2 billion. 

Shanghai Able Digital Science & Tech soared 29% to HK $86.30, and the company completed its initial public offering in Hong Kong. 

The educational content and services provider priced its offering at HK $67.50 per share, sold 6.7 million shares, and raised gross proceeds of HK $450 million.