In the third quarter, China’s exports declined by 5.6% year-on-year, and further extended the 2.9% contraction in the second quarter. An even faster drop in imports resulted in a trade surplus expansion to USD424.1 billion in the first nine months, which has exceeded last year’s total surplus of USD382.4 billion. In September, the trade surplus increased to USD60.3 billion, reaching the highest level since May, according to the General Administration of Customs.