China's foreign trade demonstrates strong resilience and resistance to shocks

Editor's note: The article was written by Xue Tianhang, associate researcher of the Research Center for Regional Coordinated Development and deputy director of the Regional Economic Planning Institute, Zhejiang University. It reflects the author's opinions and not necessarily the views of CGTN. It has been translated from Chinese and edited for brevity and clarity.

Amid a growing tide of unilateralism and protectionism worldwide, the economic globalization order rooted in multilateralism is facing daunting challenges. Since the inauguration of the new Trump administration in 2025, the United States has continued to impose steep tariffs on foreign goods in an attempt to reduce its trade deficit and bring manufacturing back to American soil. This has severely disrupted market rules and the international economic and trade order, destabilizing global industrial and supply chains and making international trade, foreign investments, and other normal economic and trade interactions more complicated. According to the latest Global Trade Outlook and Statistics released by the World Trade Organization, the volume of global merchandise trade is expected to decline by 0.2 percent in 2025 under the tariff conditions of April 14. Should the tariff situation deteriorate further in the future, global goods trade would suffer a steeper decline, with trade contracting by more than 1.5 percent and the least developed countries being hit the hardest economically.

China's foreign trade demonstrates strong resilience and bolsters sluggish global market 

In response to an increasingly complex and volatile international landscape, China's foreign trade has demonstrated strong resilience, injecting momentum into a persistently sluggish global trade market. According to the latest data from China Customs, the country's total imports and exports reached 17.94 trillion yuan ($2.5 trillion) from January to May 2025, marking a 2.5 percent year-on-year increase. Specifically, exports totaled 10.67 trillion yuan, registering a rapid growth of 7.2 percent, while imports fell 3.8 percent year-on-year to 7.27 trillion yuan. In May alone, China's total imports and exports reached 3.81 trillion yuan, up 2.7 percent year-on-year, with exports growing by 6.3 percent. The data shows that China's export growth accelerated in April, while imports returned to positive growth, highlighting the country's strong capacity to withstand external shocks amid a subdued global trade landscape.

Growing innovation vitality helps boost China's foreign trade and enhance product visibility

These achievements in foreign trade reflect China's growing innovation vitality and its continually optimized industrial structure. In terms of exports, the competitiveness of the products exported by advantageous sectors continues to strengthen. Exports of the "new three", namely, electric vehicles, lithium batteries, and photovoltaic products, have maintained steady growth, while the share of green, low-carbon, and smart products is rising swiftly. As for trading partners, China's deepening trade and economic ties with neighboring countries have reduced its reliance on any single country. Exports to emerging markets such as ASEAN and Belt and Road Initiative countries have grown notably, helping to offset the impact of high tariff barriers imposed by developed countries like the US. From the perspective of market entities, private enterprises have played the role of both stabilizers and main drivers in the development of China's foreign trade. As market-oriented reforms advance further, the international competitiveness of Chinese private enterprises has steadily increased, with brand recognition growing stronger. For instance, in sectors such as mobile phones, automobiles, and home appliances, private brands like Huawei and BYD are expanding their influence in overseas markets.

China commits to further opening up and sharing development opportunities with the world

China's door to the outside world will only open wider. The country has adopted a range of measures to deepen its level of opening up and share development opportunities with the rest of the world. For example, China has introduced policies to promote the orderly opening of sectors such as the internet and cultural industries, along with the continued expansion of pilot programs in fields like telecommunications, healthcare, and education. China is also broadening its unilateral opening to the least developed countries. By granting these countries zero-tariff treatment for a wider range of tariff lines, China is helping boost their exports to the Chinese market, support their economic development, and facilitate their integration into the global economy. These proactive steps not only reflect China's sense of responsibility as a major power but also showcase its firm commitment to embracing the world and making progress alongside the global community.