On July 14, China released its mid-year trade figures, offering a snapshot of resilience amid global uncertainty.
According to customs data, total imports and exports in the first half of 2025 reached 21.79 trillion yuan, a 2.9% year-on-year increase, with growth picking up speed compared to the first five months. Exports surpassed 13 trillion yuan for the first time in any January–June period, marking a 7.2% rise, while imports came in at 8.79 trillion yuan, down 2.7% but narrowing the decline seen earlier this year.
At a press conference, Wang Lingjun, Deputy Head of the General Administration of Customs, described the results as “hard-won,” highlighting that China’s foreign trade has managed to achieve larger scale, better quality, and controllable variables despite global headwinds.
Scale: Record Highs in Trade Volumes
China’s trade passed the 20-trillion-yuan mark in the first half of the year, setting a new record for the period. Compared to last year, total trade increased by more than 600 billion yuan. Momentum strengthened in the second quarter, with imports and exports up 4.5% year-on-year, continuing a seven-quarter streak of growth. June alone saw all three key indicators—imports, exports, and total trade—return to positive growth.
Quality: Driving Innovation and Green Exports
Chinese exporters are riding the wave of global energy transition, boosting supply of high-quality and green products while carving out new industries and markets. Exports of mechanical and electrical products hit 7.8 trillion yuan, up 9.5% and accounting for 60% of total exports. Exports of high-end equipment, closely tied to new productive forces, jumped by over 20%, while the so-called “new three” (electric vehicles, lithium batteries, and solar panels) grew 12.7%.
Variables: Expanding Partnerships Worldwide
China is broadening its global “circle of friends.” In the first half of the year, trade with more than 190 countries and regions increased, with 61 partners recording trade volumes above 50 billion yuan, up by five from last year. Traditional markets like the EU, Japan, and the UK remained stable, while emerging markets provided strong growth, including trade with Africa (+14.4%) and Central Asia (+13.8%).
However, challenges remain. Some countries have imposed tariffs in violation of international trade rules, putting pressure on global growth. China’s imports dipped earlier this year, and China–U.S. trade saw sharp fluctuations. In the first half, trade with the U.S. totaled 2.08 trillion yuan, down 9.3%. After modest growth in Q1, bilateral trade slipped by 20.8% in Q2 due to tariff measures.
Still, there are signs of improvement. Recent talks in Geneva and London have yielded progress, with June trade between the two nations climbing back above 350 billion yuan, easing the earlier decline.
Confidence Returning, Outlook Ahead
China’s Customs survey shows that both exporters and importers have reported rising confidence for two straight months. While Wang cautioned that global protectionism and uncertainty remain high, he emphasized that China’s diverse markets, innovative products, and resilient companies provide the confidence and capability to weather risks and sustain steady growth.
