This episode contains segments on:

• China September foreign trade data;
• China tightening export controls on rare earths;
• China official September Manufacturing and Non-manufacturing PMI; and
• China September price indices.

The European Chamber’s second tour to Brussels this year concluded at the end of September. Join the townhall briefing on 20th October in Beijing or online to hear the tour’s key takeaways from the President.

Contact:

We’d love to hear your feedback. Contact us at website@europeanchamber.com.cn.

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Read more:

China foreign trade data, September (GACC)

http://www.customs.gov.cn/customs/302249/zfxxgk/2799825/302274/302275/6769789/index.html

China tightening export controls on rare earths (MOFCOM, GACC)

https://www.mofcom.gov.cn/zcfb/blgg/art/2025/art_e1b8bcd4bcb84eba9e1adc56b4101157.html

https://www.mofcom.gov.cn/zcfb/zc/art/2025/art_b1dd1e72bc9540098b2dc09e5c02f579.html

https://www.mofcom.gov.cn/zcfb/zc/art/2025/art_d79a7d0dcfed46aca041797c7aca71f7.html

https://www.mofcom.gov.cn/zcfb/zc/art/2025/art_ba88207d1a87486fb959288604f3c7f7.html

https://www.mofcom.gov.cn/zcfb/zc/art/2025/art_b9ad6bbdc6fd42ce9ebdcae54645f51d.html

https://www.mofcom.gov.cn/zcfb/zc/art/2025/art_24600584ed4a4abf8f74d7385d935f3c.html

China Official Manufacturing and Non-Manufacturing PMI, September (NBS)

https://www.stats.gov.cn/sj/zxfb/202509/t20250930_1961438.html

China September price indices (NBS)

https://www.stats.gov.cn/sj/zxfb/202510/t20251015_1961520.html

https://www.stats.gov.cn/sj/zxfb/202510/t20251015_1961521.html

https://www.stats.gov.cn/sj/sjjd/202510/t20251015_1961519.html

Chamber event: Townhall briefing on the second European tour in 2025

https://www.europeanchamber.com.cn/en/upcoming-events/28404/_Member_Free_Hybrid_Townhall_Briefing_by_the_President_on_the_Second_European_Tour_2025

Transcript:

RUI: Hello and welcome to China ShortCuts,

MARIANN: the European Chamber’s weekly catchup on China’s business landscape.

RUI: This episode was recorded on 15^th October 2025.  

(MUSIC)

RUI: Data released by China’s customs authorities on 13^th October showed that the country’s foreign trade growth accelerated sharply from August to September.

MARIANN:  In US dollar terms, the total value of China’s exports surged 8.3 per cent year-on-year – the highest rate of growth recorded since March. Imports also rose at a rate unparalleled since April 2024, at 7.4 per cent. As a result, China’s trade surplus narrowed to 90.45 billion US dollars – the lowest level in a year. In the first three quarters of 2025, China’s exports to the EU increased 8.2 per cent year-on-year, while its imports from the bloc fell 3.2 per cent.

(MUSIC)

RUI: On 9^th October, China’s Ministry of Commerce released six announcements—four of them jointly with the General Administration of Customs—tightening export controls of rare earth elements.

MARIANN:  Crucially, the announcements introduced export controls on technologies related to rare earths and requirements for foreign entities to obtain a dual-use items export licence. Additionally, starting from 8^th November, the scope of export controls will be extended to more items, including lithium batteries.

For the European Chamber’s members, the most immediate concern regarding China’s rare earth export controls remains the current backlog of export licence applications that are still awaiting approval. At the same time, these latest announcements add further complexity to the global supply chains of rare earth elements. As key trade partners—including the European Union—have been vocal about their concerns over access to critical minerals vital for industrial production, these announcements are likely to increase trade tensions further. The European Chamber, therefore, is urging the Chinese side to maintain communication with trade partners on the issue and continue to facilitate rare earth exports to European companies.

(MUSIC)

RUI: Manufacturing activity in China continued to shrink in September, while non-manufacturing—reflecting services and construction—stagnated, according to data released on 30^th September by the National Bureau of Statistics.

MARIANN:  The official manufacturing purchasing managers’ index or PMI stood at 49.8 points in September. While this was the highest reading of the past half year, the index still remained below the 50-point mark separating growth from contraction. A breakdown by company size indicated that only large manufacturing firms were able to increase their activity in September. A key reason behind the overall decline was a persistent contraction in new orders – which continued for the third month in a row, albeit the corresponding subindex edged closer to the 50-point mark. Conversely, production surged at the fastest pace recorded since March, and optimism about the year ahead rose to the highest level in seven months.  

The non-manufacturing PMI sank to 50 points in September, indicating stagnation, as construction activity shrank for the second month in a row and growth in services activity slowed.

(MUSIC)

RUI: According to data published by China’s statistics bureau on 15^th October, deflation continued to put a pressure on the country’s economy in September, as both producer and consumer prices dropped compared to a year ago.

MARIANN:  The producer price index showed a 2.3 per cent year-on-year fall. This marked the 36^th consecutive month of decline in prices producers charge their customers at the factory gate. The rate of decline, however, was the mildest recorded in seven months, as in certain industries—including aircraft and special electronic materials manufacturing— prices improved year-on-year, while in some others, the rate of decline narrowed.

Consumer prices dropped 0.3 per cent compared to the same period last year. This also indicated a slight improvement from August, when the index showed a 0.4 per cent decline. The main factor drawing the index downwards was an accelerating fall in food and energy prices.

(MUSIC)

RUI: The European Chamber’s second tour to Brussels this year concluded at the end of September, with a delegation made up of the president, vice presidents, board members, senior working group and secretariat representatives.

MARIANN:  During the week-long tour, delegates presented the newly released European Business in China Position Paper 2025/2026 and the Chamber’s key messaging to European officials, the Chinese Ambassador to the EU, industry associations and think tanks. In total, 55 meetings were held.

RUI: Join us on 20^th October in Beijing or online for our national townhall event, where European Chamber President Jens Eskelund will debrief members on the key takeaways of this second tour to Brussels this year.

(MUSIC)

MARIANN: Thanks for listening, and don’t forget to tune in again next week.

RUI: In the meantime, please find useful links in the episode notes.