Customs data released on April 14 revealed that China's total goods import and export value reached 11.84 trillion yuan in the first quarter of 2026, marking the first time it has exceeded 11 trillion yuan during the same period in history. The year-on-year growth rate remained in double digits, reaching 15%. Exports amounted to 6.85 trillion yuan, up 11.9% compared to the previous year, while imports hit 4.99 trillion yuan, setting a new record for the period with a growth rate of 19.6%. This outstanding trade performance has undoubtedly injected strong momentum into China's economy at the beginning of the 15th Five-Year Plan period.
Amid a complex international landscape, rising trade protectionism, and ongoing geopolitical conflicts, many countries and regions are facing severe challenges in foreign trade. Against this backdrop, China's double-digit growth in import and export volume is particularly noteworthy. It sends a clear signal that China's commitment to high-level openness remains unwavering, and the quality of its openness continues to improve.
Beyond the sheer expansion of trade volume, structural optimizations are equally significant. Data indicate that trade with developed economies, such as the European Union, continued to grow overall. This demonstrates that Chinese products maintain strong competitiveness and appeal in traditional export markets. Meanwhile, trade with ASEAN, Latin America, and Africa all saw growth rates exceeding 10%, reflecting an expanding and more balanced network of international partnerships. A diversified trade structure can unlock additional demand, mitigate risks from reliance on single markets, and enhance the resilience of China's foreign trade.
The simultaneous high growth in both imports and exports highlights the positive interaction between domestic and international economic cycles. In times of external uncertainty, some countries may lean toward isolationism. However, China's first-quarter trade data presents a contrasting narrative. The 19.6% rise in imports indicates that China is not only exporting goods globally as the "world's factory" but is also actively expanding imports and embracing international markets. Foreign trade and domestic demand are inherently complementary. Strong import figures reflect a stable and improving domestic economy, with robust consumer and industrial demand supporting import growth. In turn, imports of high-quality goods and key technologies can help upgrade domestic industries, promote higher-value exports, and create a virtuous cycle.
Thus, the strong performance in foreign trade is not isolated but results from the synergistic development of internal and external economic forces. A healthy trade pattern is characterized by balanced growth in both imports and exports.
The significant rise in trade figures is not only a measure of transaction volume but also a reflection of market vitality. Customs data show that 618,000 enterprises engaged in import and export activities during the first quarter. Among them, over 540,000 were private enterprises, further solidifying their role as the main drivers of foreign trade. Private firms, known for their agility and innovation, range from long-established manufacturing giants to flexible small and medium-sized traders. Their success overseas underscores the vitality of private businesses and growing market confidence.
From a regional perspective, key provinces and cities continue to serve as stabilizers. Coastal regions, as frontlines of opening-up, delivered remarkable performances in the first quarter, acting as major engines for trade growth. For instance, Shanghai's total foreign trade surged by 21.9%, far exceeding the national average. Port statistics also reflect this trend: Shenzhen Port handled 8.52 million TEUs of foreign trade containers in the first quarter, up 7.81% year-on-year, while Ningbo Zhoushan Port achieved record highs in both cargo and container throughput. These open economic hubs, supported by robust industrial chains and dynamic markets, not only achieved rapid growth themselves but also drove coordinated development in surrounding areas, providing solid support for overall trade stability.
Trade data does not exist in isolation but reflects the broader economic situation. The strong first-quarter performance is rooted in China's robust economic recovery. Enterprises are willing to import because they see demand for expanded production; consumers are eager to buy imported goods due to improved income expectations; and private businesses dare to explore overseas markets despite global uncertainties, backed by a resilient domestic market.
While the strong start to the year is encouraging, uncertainties in the global economy persist, and challenges remain in achieving balanced trade growth. This year’s Government Work Report emphasized "actively expanding imports and promoting balanced trade development." There is still significant room to increase imports, as highlighted by customs officials, with China aspiring to be not only the "world's factory" but also the "world's market." Sustaining stable trade growth will require steadfast commitment to high-level openness, continuous optimization of the trade structure, vigorous stimulation of market vitality, and leveraging the leading role of key regions.
In summary, first-quarter trade data underscores the tangible resilience of China's economy, with high-level openness generating sustained dividends.