On January 14, data unveiled by the General Administration of Customs revealed that, measured in US dollars, China's export volume experienced a 6.6% year-on-year increase in December 2024. This growth rate marked a 0.7 percentage point acceleration compared to the previous month (November). Wang Qing, the Chief Macro Analyst at Dongfang Jincheng, pointed out that the trade diversion effect remained in play throughout December. He highlighted that China's exports to economies involved in the 'Belt and Road' Initiative witnessed an uptick in growth. Simultaneously, buoyed by the global surge in AI investment and the ongoing transformation and upgrading of the domestic manufacturing sector, December saw a notable acceleration in the export growth of chips and automobiles.
