China's increase in exports cannot help the economy escape recession.

China's economy is slowing down in the last quarter of the year, with GDP expected to grow by only 4.7% year-on-year, down from 5.2% in the previous quarter. The main reason is the U.S.-China trade tensions, which have weakened investment, industrial production, and retail.

Economists predict that the upcoming Central Committee conference will focus on boosting domestic consumption to offset falling exports and weak investment. Experts such as Michelle Lam and Wei Yao believe that increasing consumer spending is key to reducing risks from trade and the traditional sector.

Currently, household spending only accounts for 40% of GDP, lower than the global average. In addition, China has experienced 9 consecutive quarters of deflation. Meanwhile, the G7 has committed to coordinating responses to control China's rare earth export, a country that accounts for up to 80–90% of the global supply.