Goldman Sachs analysts note that China’s exports in October fell short of expectations, primarily due to fewer working days during the month.

Key insights from the research note:

• October slowdown likely influenced by payback from earlier export front-loading.
• Medium-term outlook remains strong: GS expects exports to remain resilient through 2026.
• Government strategy: China aims to reach per-capita GDP of moderately developed countries by 2035 and is focusing on high-tech manufacturing to drive growth.
• This suggests that China’s export growth will remain robust over the next few years, despite short-term fluctuations.