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

Shangyou News:

We've noticed that first-quarter import data was particularly strong, with growth significantly outpacing 2025. What are the highlights of this import growth? What are your expectations for future import trends? Thank you.

Wang Jun:

Thank you. China has consistently taken the initiative to open its enormous market, expand imports and strengthen industrial cooperation for mutual benefit, allowing more countries to share in the opportunities China offers. This year's government work report called for actively expanding imports to promote balanced trade. According to customs statistics, in the first quarter of 2026, China's imports grew nearly 20%, outpacing export growth by 7.7 percentage points and hitting a record high for the period.

By source, China's first-quarter imports grew from more than 150 countries and regions. A total of 51 countries and regions each exceeded 10 billion yuan in China's import value, three more than the same period last year. ASEAN and the EU, the top sources of imports, accounted for 14.8% and 9.1% of the total value, respectively. Imports from Central Asia and Latin America both outpaced the overall growth rate, while imports from Africa rose 14.6%.

By product, industrial production continued to accelerate, driving up raw material imports. In the first quarter, imports of energy products and metal ores rose a combined 9.4%, while imports of textile raw materials, computer parts and electronic components grew 39.3%, 45.3% and 37.9%, respectively. Policies to promote consumption continue to take effect. The extended Spring Festival holiday provided a significant boost, and imports of consumer goods rebounded. In the first quarter, imports of consumer goods grew 5.4%, enriching market supply. Imports of clothing, shoes and hats rose 8.7%; food, tobacco and alcohol grew 8%; and cosmetics increased 4.9%.

China is not only willing to serve as the "world's factory," but also aspires to be the "world's market." We continue to open China wider. Starting Dec. 1, 2024, China has given zero-tariff treatment on 100 percent tariff lines from the least developed countries having diplomatic relations with China. Starting May 1, China will implement comprehensive zero-tariff measures for the 53 African countries with which it holds diplomatic relations, opening the Chinese market to their high-quality products. China's customs will continue to provide better clearance supervision and services to facilitate the expansion of imports, helping turn China's vast market into a shared global opportunity.

Thank you.