AGP Executive Report
Last update: 2 hours agoTrade: China’s surplus reached $1.04 trillion in the first 10 months of 2026, as exports jumped 35.2% in October. The record pace highlights the strength of manufacturing exports — and the drag from weak domestic demand. Autos: Passenger vehicle sales fell 27.4% in October, while exports rose 62.3% to about 927,000. New energy vehicles accounted for a record 67.5% of retail sales, but automakers are leaning harder on overseas markets as China’s price war and soft demand persist. AI in finance: Chinese banks are moving AI into routine operations, from document processing to credit reviews. Bank of Jiangsu says the tools cut small-business credit approval time by 30%; banks still face integration costs and cybersecurity risks. Critical materials: Rare-earth export value climbed 46.4% to $584.3 million in the first 10 months, despite an 8.7% drop in volumes, underscoring China’s leverage in a key industrial supply chain. CIIE: The Shanghai expo closed with record intended deals, while companies including FedEx and Otis targeted opportunities in Chinese logistics and building upgrades as local firms expand abroad. Advanced mobility: Sri Lanka approved testing of Chinese-made EHang passenger air taxis, a fresh overseas trial for China’s electric aircraft industry.
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