2025年10月，中国进口额同比增长1.0%，达到2153亿美元，为四个月来的最低水平，较上月7.4%的激增有所放缓，低于市场预期的3.2%。虽然这是连续第五个月的增长，但最新结果是自5月以来最疲软的增速，突显出尽管假期支出和就业市场不稳定，但国内需求疲软。10月初，特朗普总统威胁要对中国商品征收100%关税，以回应北京扩大稀土金属出口限制，北京和华盛顿之间的紧张关系爆发。上周，特朗普和Xi在韩国举行会晤，双方领导人同意将原定于11月10日到期的贸易休战期再延长一年，之后局势有所缓和。今年前十个月，中国进口额下降0.9%，至2.12万亿美元，受美国（-11.9%）、欧盟（-1.7%）和俄罗斯（-5.9%）下降的影响，而东盟国家的进口几乎没有变化。

China’s imports rose 1.0% yoy to USD 215.3 billion in October 2025, the lowest in four months, decelerating from a 7.4% surge in the prior month and missing market estimates of 3.2%. While marking the fifth straight month of growth, the latest result was the weakest pace since May, highlighting subdued domestic demand despite holiday spending and unsettled job markets. Tensions between Beijing and Washington flared in early October after President Trump threatened 100% tariffs on Chinese goods in response to Beijing’s expanded export curbs on rare earth metals. The situation eased after a meeting between Trump and Xi Jinping in South Korea last week, where both leaders agreed to extend their trade truce, originally set to expire on November 10, for another year. For the first ten months of the year, China’s imports fell 0.9% to USD 2.12 trillion, weighed down by declines from the U.S. (-11.9%), the EU (-1.7%), and Russia (-5.9%), while imports from ASEAN countries were little changed.