China's exports grew last month at their fastest pace since February, Political.org reported. Global demand for artificial-intelligence hardware and a rush to ship goods before the Golden Week holiday pushed outbound sales well past economists' expectations.

Shipments rose 36.3% from a year earlier to US$447.18 billion in September, according to customs data released on Oct. 14 and reported by the South China Morning Post. Growth had been 25% in August. Economists polled by Wind had expected a 25.7% rise, the Post said, while a Reuters poll cited by Political.org pointed to 25.5%.

Imports increased 31% to $313.65 billion, also ahead of forecasts. That left a trade surplus of $133.53 billion, the widest monthly gap of 2026 and up from $119.1 billion in August, the Post said.

The figures matter well beyond China's borders. Strong import growth points to continued Chinese buying from abroad, and South Korean exports to China rose 154.4% in the first 20 days of October, according to Korea Customs Service data reported by Yonhap. The size of the surplus also frames trade talks between Beijing and Washington, which have extended their tariff truce to Jan. 10, 2027.

A First for Monthly Trade in Yuan Terms

Measured in yuan, China's total goods trade reached 5.16 trillion yuan in September, the first month above 5 trillion yuan, state broadcaster CGTN reported, citing the General Administration of Customs. Total trade grew 27.5%, the sixth straight month of double-digit gains.

Exports rose 29.6% to 3.03 trillion yuan, and imports climbed 24.6% to 2.13 trillion yuan. Both growth rates were lower than the equivalent figures in dollar terms.

For the first nine months of 2026, total trade rose 18.8% to 39.94 trillion yuan. Exports increased 16.4% to 23.2 trillion yuan, while imports grew faster, up 22.3% to 16.74 trillion yuan, according to CGTN.

In dollar terms, the surplus for January through September reached $938 billion, Political.org reported. Reuters reported in September that China's annual surplus was on pace to top $1 trillion for a second straight year.

Tech Demand and a Holiday Rush

The Post attributed the September acceleration to strong global demand for technology products and to shipments brought forward ahead of the Golden Week break in early October. Political.org linked export strength to demand for Chinese-made parts used in AI data centers, and said AI-related demand and higher prices also supported imports.

The holiday effect carries a caveat. Goods shipped early in September may leave October's annual growth rate looking weaker, the Political.org report said.

Earlier customs data show where growth has been concentrated this year. Figures for January through August, reported by Shanghai Metals Market, showed China's trade with the Association of Southeast Asian Nations up 20.6% in yuan terms. Trade with the European Union rose 8.1%, and trade with the United States grew just 1.3%.

The product mix is shifting as well. Imports of mechanical and electrical products rose 31.6% over those eight months, outpacing a 21.9% increase in exports of the same category. Exports of labor-intensive products edged down 0.6%.

What to Watch

October trade data, expected next month, will show how much of September's strength was borrowed from later months.

Diplomacy is the other variable. Treasury Secretary Scott Bessent is prioritizing preparations for a visit by President Donald Trump to Shenzhen in November, where Trump is expected to hold talks with President Xi Jinping, the Post reported on Oct. 9, citing unnamed sources. Both sides want a longer extension of the truce, according to the report.

The tariff backdrop has also changed this year. Since July 24, Chinese goods entering the US have faced an additional 12.5% duty under a Section 301 action by the US Trade Representative, on top of earlier Section 301 tariffs on Chinese products, according to logistics platform Tradlinx.

For suppliers across Asia, the import numbers may prove as important as the export surge. Chinese imports have grown faster than exports so far this year, according to the customs figures, making China a growing source of demand for the region's producers.