Traditional ChineseRSS

Economics & China

China's H1 2026 Foreign Trade Hits Record 25.47 Trillion Yuan

China's total goods trade in the first half of 2026 reached 25.47 trillion yuan, up 16.9% year-on-year — the highest half-year figure ever — driven by AI-related exports, new energy products, and strong processing trade demand.

On July 14, 2026, the General Administration of Customs of China released its semi-annual trade data, and the headline number was decisive: 25.47 trillion yuan in total goods imports and exports for the first half of the year, up 16.9% from the same period in 2025. This is the first time China's half-year trade has surpassed the 25-trillion-yuan threshold, cementing its position as the world's largest goods trader.

The growth was broad-based across all regions. Eastern China, which accounts for 78.8% of the total, grew 16.5%. Central and western regions posted even faster growth rates, reflecting the ongoing relocation of manufacturing capacity inland. The Yangtze River Delta and the Guangdong-Hong Kong-Macao Greater Bay Area, China's two largest economic hubs, both reported double-digit export expansion.

The composition of exports tells a story of industrial upgrading. Mechanical and electrical products, including AI servers, advanced semiconductors, and industrial robots, continued to dominate the export mix. New energy vehicles (NEVs) maintained their rapid export momentum, with shipments to Europe, Southeast Asia, and Latin America all rising. Lithium batteries and photovoltaic products — collectively known as China's "new three" export items — also recorded strong growth, underscoring the country's commanding position in the global green-tech supply chain.

Imports also grew robustly, rising 12.5% year-on-year, driven by energy commodities, integrated circuits, and advanced manufacturing equipment. This suggests that domestic industrial demand remains healthy, and that China is both a major exporter of finished goods and a significant importer of intermediate components — a pattern consistent with an economy deeply integrated into global value chains.

Private enterprises were the standout performers. Their 14.53 trillion yuan in trade value represented 57% of the national total, up from 55% in the prior year. This reflects a long-term structural shift: China's private sector is increasingly the engine of its foreign trade, while state-owned enterprises and foreign-invested companies play a relatively smaller role than in previous decades.

The data also carried a notable digital-economy signature. Cross-border e-commerce exports grew at a pace well above the overall trade average, and trade in digital services — software, cloud computing, and AI-related services — showed accelerating momentum.

Knowledge takeaway: China's H1 2026 goods trade reached 25.47 trillion yuan ($3.5 trillion), up 16.9% YoY — a record half-year figure. Private enterprises drove 57% of the total. AI-related goods, EVs, and lithium batteries led export growth.