Overview
- Customs data show full-year exports rose 5.5% to $3.77 trillion and imports were $2.58 trillion, with December shipments up 6.6% and purchases up 5.7%.
- Sales to ASEAN, Africa, the EU and Latin America increased — roughly 13%, 26%, 8% and 7% — more than compensating for a 20% plunge in exports to the United States.
- Chinese firms diversified markets and set up overseas hubs as a weaker yuan and demand for autos, chips and other electronics supported export growth.
- Beijing signaled trade rebalancing, with Premier Li Qiang urging more imports, the scrapping of solar export tax rebates, and fast-tracked revisions to the Foreign Trade Law.
- Economists see exports remaining a key growth driver in 2026, even as the IMF and others warn that overcapacity concerns and trade frictions threaten sustainability.