China’s foreign trade continued its steady growth trajectory in the first five months of 2026, with total goods trade reaching 20.68 trillion yuan ($3.05 trillion), up 15.3% year-on-year, according to data released by the General Administration of Customs (GAC) on June 9. The growth rate accelerated by 0.4 percentage points compared with the January-April period, demonstrating the resilience and vitality of the world’s largest trading nation in goods.
May Trade Hits New High
In May alone, China’s goods trade reached 4.45 trillion yuan, marking the third consecutive month that monthly trade exceeded 4 trillion yuan. The year-on-year
growth rate for May expanded further to 16.9%, up 2.7 percentage points from April. Exports in May stood at 2.59 trillion yuan, up 13.8%, while imports reached 1.86 trillion yuan, up 21.5%.
“Since the beginning of this year, under the strategic guidance of head-of-state diplomacy, China has actively deepened practical economic and trade cooperation with global partners, injecting stability into international economic and trade operations,” said Lyu Daliang, Director of the GAC’s Department of Statistics and Analysis.
Export Side: High-Tech and Green Products Lead the Way
On the export front, China’s exports reached 11.91 trillion yuan in the first five months, up 11.8% year-on-year. The growth rate accelerated by 0.5 percentage points compared with the first four months.
Notably, high-tech and high-value-added mechanical and electrical products emerged as the primary growth driver. Exports of these products reached 7.58 trillion yuan, up 18.4%, accounting for 63.6% of China’s total exports. Green products including lithium batteries and wind power generators saw export growth of approximately 40%.
“The growth of mechanical and electrical products as the mainstay of exports is highly synchronized with overall export growth, indicating that the current export surge is not driven by a single category but represents broad-based growth centered on high-tech products,” a report from Shenwan Futures noted.
According to Dongfang Jincheng Research and Development Department, the AI investment boom has kept overall external demand relatively strong. Rising prices of chips, computer components, and electronic components in May further boosted China’s exports, while progress in domestic manufacturing upgrading continued to drive exports of new energy vehicles and high-tech products.
Import Side: Strong Domestic Demand Fuels Growth
Imports demonstrated even more robust momentum. China’s imports reached 8.77 trillion yuan in the first five months, up 20.5% year-on-year. May imports alone grew 21.5%, marking the third consecutive month of over 20% growth.
The acceleration in imports reflects improving domestic demand and broader market-opening measures. “The strong growth in imports reflected the effectiveness of policies aimed at expanding imports, boosting consumption, and advancing high-standard opening-up,” said Wang Xiaohong, a researcher at the China Center for International Economic Exchanges.
With improving external demand for manufacturing, China’s imports of mechanical and electrical products grew 25.3% in the first five months, while imports of manufacturing intermediate goods increased by nearly 40%.
Trade Partners: Diversification Accelerates
China’s trade partnerships continued to diversify. The Association of Southeast Asian Nations (ASEAN) remained China’s largest trading partner, with bilateral trade reaching 3.52 trillion yuan, up 16.6%. Trade with the European Union totaled 2.53 trillion yuan, up 10.3%.
Trade with the United States stood at 1.61 trillion yuan, down 6.6%. Meanwhile, trade with Belt and Road Initiative partner countries reached 10.57 trillion yuan, up 13.6%.
A particularly noteworthy development was China’s trade with African countries, which reached 1.14 trillion yuan in the first five months—the first time it has exceeded 1 trillion yuan in a January-May period, up 18.2% year-on-year. In May alone, imports from Africa reached 95.13 billion yuan, up 15% year-on-year, marking nine consecutive months of growth.
Lyu Daliang noted that since May 1, China has fully implemented zero-tariff treatment for all African countries with diplomatic ties, further accelerating imports of high-quality specialty products from Africa, with fruit and aquatic products both growing over 30% month-on-month.
Private Enterprises: The Leading Force
Private enterprises continued to hold the top position among China’s foreign trade entities. In the first five months, private enterprises’ imports and exports reached 11.81 trillion yuan, up 15.5%. Foreign-invested enterprises contributed 6.02 trillion yuan, up 15.7%, accounting for nearly 30% of China’s total foreign trade. State-owned enterprises recorded 2.81 trillion yuan in trade, up 14%.
Trade Structure Upgrading
By trade mode, general trade reached 12.47 trillion yuan, up 8.3%; processing trade reached 3.95 trillion yuan, up 22.9%; and bonded logistics reached 3.59 trillion yuan, up 41.8%.
In terms of key commodities, mechanical and electrical products dominated exports at 7.58 trillion yuan, up 18.4%. On the import side, mechanical and electrical product imports reached 3.54 trillion yuan, up 25.3%.
Outlook: China as a “Stabilizing Anchor” for Global Trade
Despite rising external uncertainties—including geopolitical conflicts and a slight decline in the WTO’s Goods Trade Barometer from 102.3 in January to 101.7—China’s foreign trade has demonstrated remarkable resilience.
“Facing a complex and severe external environment, our confidence remains firm,” said Wang Jun, Vice Minister of the General Administration of Customs. “The supporting conditions and fundamental trends for China’s long-term economic growth have not changed, and the advantages and potential of foreign trade continue to manifest”.
Foreign media have taken note of China’s performance. Reuters and dpa recently reported that China’s “trade engine is accelerating,” with multiple data points “continuing to strengthen,” reflecting the irreplaceable resilience and competitiveness of Chinese manufacturing in global supply chains.
Lynn Song, Chief Economist for China at ING, noted that both China’s imports and exports exceeded expectations in the first five months, partly supported by rising prices of high-tech products. “The country’s trade structure is also becoming increasingly tilted toward technology-intensive goods,” he added.
Sheana Yue, Senior Economist at Oxford Economics, said China’s industrial upgrading, technological advances, and well-established supply chains have enhanced the competitiveness of Chinese products, helping to sustain trade growth and market share gains despite external uncertainties.
With imports and exports both accelerating, the trade structure optimizing, and market diversification accelerating, China has positioned itself as a “stabilizing anchor” and “source of power” for global trade amid rising uncertainties in international trade.
Post time: Jul-14-2026
