The Chinese economy concluded the first quarter of 2026 with a robust performance in the global market. The total volume of imports and exports reached a historic 11.84 trillion yuan (approximately $1.6 trillion), representing a 15% year-on-year jump.
According to data from China’s General Administration of Customs, this is the first quarter in history that the 11 trillion yuan mark has been surpassed. The result signifies the country’s fastest commercial acceleration in half a decade, signaling a solid recovery in supply chains and demand.
Wang Jun, vice-chief of customs, highlighted that this growth was not merely quantitative but reflects a fundamental shift in the structure of Chinese foreign trade.
Trade Balance and Private Sector Leadership
The trade surplus was sustained by exports totaling 6.85 trillion yuan (up 11.9%). Meanwhile, imports showed a renewed domestic appetite, growing by 19.6% to reach 4.99 trillion yuan.
A significant takeaway is the consolidation of private enterprises as the engine of trade. They now hold a 57.3% share of total transactions, outperforming the growth of state-owned enterprises and firms with foreign investment.
Diversification of Trading Partners
China has continued to reduce its reliance on traditional markets, focusing on new routes of cooperation. Trade with Latin American countries and the ASEAN bloc were the highlights of the period.
- Belt and Road Initiative: Grew by 14.2%.
- ASEAN and Latin America: 15.4% increase in trade exchanges.
- Private Sector: 16.2% expansion in international transactions.
Trade Structure Overview (Q1 2026)
| Category | Value (Trillion Yuan) | Growth (%) |
| Exports | 6.85 | +11.9% |
| Imports | 4.99 | +19.6% |
| Private Enterprises | 6.78 | +16.2% |
| Foreign Investment | 3.47 | +16.1% |
Outlook for the Semesters
Analysts suggest that continued openness to new markets and the strengthening of private firms will maintain commercial momentum into the second quarter. Steady external growth is seen as a central pillar for China’s GDP growth target in 2026.
The geographic diversification and the surge in imports suggest that China is integrating even more deeply with emerging economies, creating a new axis of trade flow that challenges traditional Western dynamics.
