China's Exports Show Signs of Recovery in November
China's exports in November unexpectedly rose by 0.5% from a year ago, while imports fell by 0.6%, according to customs agency data. However, the overall decline in China's exports and imports for the first 11 months of 2023 remains at around 5% to 6%. The increase in exports was attributed to businesses cutting prices to boost volume, but weak external demand and lower-than-expected holiday orders pose challenges. China's exports to the US rose by 7% in November, while exports to the European Union fell by 14.5% and those to the Association of Southeast Asian Nations fell by 7%. Demand for Chinese goods has been affected by global growth slowdown.