Direct shipments to the U.S. now account for only about 10% of exports from China.
Chinese exports are growing at the fastest pace in six months, despite American tariffs, The Wall Street Journal reports.
In September, the volume of exports from China increased by 8.3% compared to the same period last year. In August, the growth was 4.4%. Shipments to the U.S. fell by 27% year-on-year, continuing the downward trend that began in April.
Exports to the EU, China's second-largest trading partner, grew by 14.2%, the fastest rate in more than three years. Shipments to ASEAN countries increased by 15.6%.
Economists expect the impact of American tariffs on the Chinese economy to be limited, as direct shipments to the U.S. now account for only about 10% of China's total exports.
Meanwhile, the EU is considering forcing Chinese companies to transfer technology if they wish to operate within the European Union, according to Bloomberg.
According to its information, these requirements will apply to companies that want to enter key European technology markets, including in the fields of battery and automobile production.
<iframe width="560" height="315" src="https://www.youtube.com/embed/xbowtkV__-0?si=nVTUJSkBs8I9oEOP" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
