SCIO briefing on China's imports, exports in Q1 2026

China News Service:

Could you elaborate on the highlights of China-ASEAN trade since the beginning of this year? The China-ASEAN Free Trade Area (CAFTA) 3.0 Upgrade Protocol has been officially signed, and this year marks the fifth anniversary of the China-ASEAN comprehensive strategic partnership. What new growth drivers will these bring to bilateral trade? Thank you.

Wang Jun:

Thank you. I will invite Mr. Lyu to take these questions.

Lyu Daliang:

Thank you for your questions. As you mentioned, this year marks the fifth anniversary of the China-ASEAN comprehensive strategic partnership. Over the past five years, the combined benefits of the China-ASEAN Free Trade Area and the Regional Comprehensive Economic Partnership agreement have been steadily released, driving leapfrog growth in China-ASEAN bilateral trade. Total trade has successively surpassed 6 trillion yuan and 7 trillion yuan, reaching 7.55 trillion yuan in 2025, up 34.4% from 2021, with an average annual growth rate of 7.7%. ASEAN has been China's largest export market for three consecutive years, its largest source of imports for seven consecutive years, and its largest agricultural trading partner for nine consecutive years. In the first quarter of this year, China's trade with ASEAN reached 1.97 trillion yuan, up 15.4% year on year, accounting for 16.6% of China's total foreign trade.

Over the past five years, cross-border logistics efficiency between China and ASEAN has continued to improve. The total value of cross-border cargo trade via the China-Laos Railway has exceeded 80 billion yuan. Pilot projects for smart ports along the China-Vietnam border have expanded, and construction of the New International Land-Sea Trade Corridor has progressed steadily. Dedicated air cargo routes for fresh products have also been launched. In the first quarter of this year, China's trade with ASEAN transported by water, land, and air grew by 11.6%, 23.6%, and 25.6% respectively.

Over the past five years, industrial ties between China and ASEAN have become closer, with intermediate goods accounting for more than 60% of total bilateral trade. In 2025, bilateral trade in intermediate goods reached 4.75 trillion yuan, up 28.9% from 2021. Cooperation in areas such as electronic equipment and automobile manufacturing has continued to deepen. In the first quarter, China's imports from ASEAN of flat panel display modules and storage components, as well as its exports to ASEAN of electronic components and auto parts, all registered double-digit growth.

Over the past five years, agricultural cooperation between China and ASEAN has yielded fruitful results. Chinese customs authorities and their ASEAN counterparts have signed more than 60 agreements on market access for agricultural and food products. In 2025, China and ASEAN agricultural trade reached 447.84 billion yuan, up 30.7% from 2021. Tropical fruits and edible aquatic products from ASEAN have enriched Chinese dining tables, while temperate fruits and vegetables from China are increasingly popular among consumers in ASEAN countries. In the first quarter, China's imports of pineapples and lobsters from ASEAN increased by 20.2% and 34.1% respectively, while its exports of fresh pears and lettuce to ASEAN rose by 37.3% and 6.3% respectively.

On Oct. 28 last year, the CAFTA 3.0 Upgrade Protocol was officially signed. At present, China and ASEAN member states are working in parallel to accelerate their respective domestic ratification procedures. It is believed that with the joint efforts of both sides, China-ASEAN economic and trade cooperation will reach a new high from a new starting point.

Thank you.