中国海关总署周一发布的官方数据显示，10月中国出口和进口增速均超预期，但贸易顺差大幅收窄，低于预期。
Goods exports soared by 35.2% last month from a year earlier, exceeding expectations for a 33.5%. Imports climbed by 41.6% last month, customs data showed, jumping from 31% in September.
数据显示，10月货物出口同比激增35.2%，超过路透社调查预期的33.5%，但较9月的36.3%增速有所放缓。
China's exports and imports surged more than expected in October, according to the official data released Monday, while its surplus shrank sharply, undershooting expectations.
海关数据显示，10月进口同比增长41.6%，较9月的31%大幅跃升，并大幅超出路透社调查分析师预期的32%增幅。
Goods exports soared by 35.2% last month from a year earlier, exceeding expectations for a 33.5% jump in a Reuters poll but slowing from the 36.3% growth in September.
据伦敦证券交易所集团（LSEG）数据，10月贸易顺差降至1053亿美元，为4月以来最低水平。今年以来累计顺差为1.04万亿美元，而2025全年创下1.2万亿美元的纪录。贸易伙伴要求北京提振内需、实现经济再平衡的呼声日益高涨。
Imports climbed by 41.6% last month, customs data showed, jumping from 31% in September and sharply beating estimates for a 32% rise by analysts polled by Reuters. The surplus dropped to $105.3 billion in October, the lowest level since April, according to LSEG data, with year-to-date figure at $1.04 trillion, compared with a record $1.2 trillion for the full year 2025. Calls from trading partners have grown louder for Beijing to boost domestic demand and balance its economy.
出口的强劲表现使政策制定者得以继续依靠适度的政策支持，以实现全年4.5%至5%左右的经济增长目标。家庭消费依然疲软，9月社会消费品零售总额仅温和增长1.1%，凸显了世界第二大经济体的结构性失衡。
The strength in exports has allowed policymakers to continue relying on moderate policy support to meet the country's annual growth target of 4.5%-5%. Household consumption has remained soft, with retail sales growing a modest 1.1% in September, underscoring the imbalance in the world's second-largest economy.
出口激增很大程度上反映了全球对中国芯片及其他人工智能相关硬件的强劲需求。但全球人工智能建设若出现放缓，将冲击出口势头并压缩中国出口商利润空间。
Much of the surge in exports reflects robust demand for its chips and other artificial intelligence-related hardware. But any slowdown in the global AI buildout would risk denting the momentum and squeezing Chinese exporters' margins.
中国褐皮书（China Beige Book）的一项单独调查显示，与上年同期相比，10月国内和出口新订单均有所放缓。
A separate survey by China Beige Book showed new domestic and export orders for goods slowed in October compared to a year earlier.
官方采购经理指数（PMI）数据显示，受海外订单降温影响，10月工厂活动意外收缩。总部位于纽约的研究机构中国褐皮书在10月30日的研报中指出：“经济中较强的一面变弱了。”
Factory activity also unexpectedly shrank last month, according to official PMI data, as overseas orders cooled. "The stronger side of the economy got weaker," the New York-headquartered research firm said in a note on Oct. 30.
华盛顿和北京在9月同意将更广泛的贸易休战延长两个月至1月，同时还有一系列其他贸易措施，包括对某些关键矿产的出口管制豁免，以及对彼此船只征收特别港口费。
Washington and Beijing agreed in September to extend a broader trade truce by two months to January, along with a slew of other trade measures, including export-control waivers for certain critical minerals and special port fees for each other's vessels.
中国国家主席习近平和美国总统特朗普预计将于下周在中国深圳举行的亚太经合组织（APEC）领导人峰会上今年第三次会晤。
Chinese President Xi Jinping and President Donald Trump are expected to meet for a third time this year at the APEC leaders' summit in Shenzhen, China next week.
欧盟上个月也与北京达成协议，在未来几年限制中国混合动力汽车的进口，作为减少其对华贸易逆差努力的一部分。但分析人士称，这些将于12月1日生效的措施几乎无法遏制中国的出口热潮。
The European Union also reached an agreement with Beijing last month to limit the imports of Chinese hybrid vehicles over the next few years, as part of the effort to reduce its trade deficit with Beijing. But the measures, taking effect on Dec.1, would barely contain China's export boom, according to analysts.
据外交关系协会高级研究员布拉德·塞策称，每年35万辆的进口上限高于中国去年向欧洲出口的30万辆混合动力汽车，但远低于过去三个月年化80万辆的出口节奏。
The cap of 350,000 imported cars per year is above the 300,000 hybrids that China exported to Europe last year, though well below the 800,000 units in annualized pace over the last three months, according to Brad Setser, a senior fellow at the Council on Foreign Relations.
“城市在汽车方面与中国的贸易和产业政策仍远未形成连贯性，更不用说对华整体贸易的连贯经济政策了，”曾任美国财政部官员、专攻全球贸易和资本流动的塞策表示。
"Europe still is a long way from a coherent trade and industrial policy with respect to autos, let alone a coherent economic policy towards overall trade with China," said Setser, a former U.S. Treasury official who specializes in global trade and capital flows.