Exports of China’s so-called “new three” high-tech green products surged in October, defying a broader decline in the nation’s foreign trade weighed down by slumping shipments of traditional consumer goods.
Exports of lithium-ion batteries, solar cells, and new-energy vehicles (NEVs) rose 32.4% from a year earlier to $16.7 billion, according to data released Tuesday by the General Administration of Customs. That came in stark contrast to a 1.1% drop in total exports measured in dollar terms.
The divergence highlights a structural shift in China’s export landscape, as green-tech and advanced manufacturing increasingly power growth amid fading global demand for consumer staples and continued trade tensions.
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