China’s Goods Trade Up 20% in First 10 Months of 2025

The import side outpacing exports is the more interesting signal here: faster inbound flows suggest domestic demand is doing more of the work, which matters for commodity-importing economies and for the broader reflation debate. The headline growth rate is strong enough that it may soften expectations for near-term stimulus, a relevant backdrop for risk assets including crypto. Whether import momentum holds as base effects shift is the open question.