Yicai:

We observed that in 2025, exports withstood external pressures and achieved stable growth. What do you consider to be the main growth drivers? Are there any particular features worth noting? Thank you.

Wang Jun:

Last year, despite headwinds and countercurrents, China's exports reached a scale of 26.99 trillion yuan, representing year-on-year growth of 6.1%. Reasonable growth in quantity stems from effective improvements in quality, prominently reflected in three aspects:

First, innovation has adapted to international market demand. High-tech product exports grew 13.2% year on year in 2025, contributing 2.4 percentage points to China's export growth. Among them, exports of special-purpose equipment increased 20.6%, high-end machine tools 21.5%, and industrial robots 48.7%. In particular, industrial robot exports exceeded imports last year, making China a net exporter of industrial robots. At the same time, traditional industries have been upgrading and transforming, continuously gaining new vitality. For example, ceramic companies have combined China's traditional craftsmanship with overseas culture, and their novelty ceramic trees have become a popular new choice for holiday decorations abroad. Home appliance companies have developed a "desert air conditioner" that can operate normally even when the outdoor temperature exceeds 60 degrees Celsius, with its export market continuing to expand.

Second, China's green initiatives have been boosting the global low-carbon transition. In green energy, lithium battery exports increased 26.2% and wind turbine exports 48.7% in 2025. In green transportation, electric motorcycle and bicycle exports rose 18.1%, while electric railway locomotive exports grew 27.1%. In green production, industrial gas purification equipment exports increased 17.3%, and electric forklift exports climbed 5.2%. High-quality green products offer a Chinese solution for the global green transition.

Third, China has promoted common development through cooperation. In 2025, China's intermediate goods trade grew rapidly, becoming the main driving force for exports and providing strong support for global industrial cooperation. China's export markets have become more diversified, with exports to Belt and Road partner countries growing 11.2%, contributing 5.4 percentage points to overall export growth. ASEAN has remained China's largest export market for three consecutive years. Exports to emerging markets such as Latin America, the Middle East, Central Asia and Africa have all outpaced the overall growth rate. China has continued to provide the world with high-quality, affordable, stable and reliable products, becoming a critical link in global industrial and supply chains.

Overall, China's export innovation has become more robust, its green development more prominent, and its cooperative development more vibrant. High-quality Chinese products are popular around the globe, playing an important role in ensuring the stability of global industrial and supply chains. They inject certainty and bring new opportunities to global economic and trade development. Thank you.