China's Foreign Trade Surges in Both Scale and Quality Amid Global Shifts

Par Liu Xiangdong

Since the beginning of this year, China's foreign trade has maintained strong growth despite various external shocks and challenges. In September, the value of imports and exports exceeded 5 trillion yuan (about $749.81 billion) for the first time in a single month.

This robust performance is evidenced not only by rapid expansion and concurrent improvements in both volume and quality, but also by the vitality and resilience driving China's high-quality economic development.

Trade is expanding rapidly. China has become a major trading partner to 169 countries and regions. In the first three quarters of this year, total goods imports and exports grew 18.8 percent year on year, with growth accelerating quarter by quarter from 15.3 percent in the first quarter to 18.3 percent in the second and 22.3 percent in the third.

China operates as both a major seller and buyer in the global market. As demand in its domestic market continues to unfold, imports rose 22.3 percent in the first three quarters. The composition of traded goods is also optimizing, driven by industrial transformation, green innovation, and high-tech manufacturing.

In the first three quarters, exports of green products such as electric vehicles, lithium-ion batteries, and wind turbines rose 72.3 percent, 36.4 percent, and 22.4 percent, respectively. Integrated circuit exports surged 99.1 percent. Meanwhile, demand remained strong for intermediate goods, upstream raw materials, and quality international products, including fresh durians from Malaysia and salmon from the Faroe Islands.

Trade resilience is strengthening. Despite a complex global environment, China remains the world's largest trader in goods. In the first three quarters, its trade with more than 180 countries and regions grew year on year, underscoring the success of long-term market diversification efforts.

Behind this strong performance lies the continued vitality of industrial innovation. Emerging industries in artificial intelligence, new energy, and new materials continue to post rapid growth, contributing more than half of the increase in industrial output during the first three quarters.

China's advantages in foreign trade are set to expand further. First, opening-up policies are becoming more favorable, supported by free trade agreements, zero-tariff policies for 63 countries, and enhanced visa-free transit. Second, logistics channels are growing more efficient, highlighted by the steady operation of the China-Europe Railway Express and expanded multimodal transport. Third, market diversification continues to broaden as companies adapt to personalized global consumer demands.

Overall, China's foreign trade growth is injecting powerful momentum into the global economy. Backed by its vast domestic market and robust industrial system, China continues to unlock the vitality of its foreign trade.

*(Liu Xiangdong is deputy director and research fellow at the department of research management and information services, China Center for International Economic Exchanges.)*