Overview
- Official customs data show exports rose about 5.5% in 2025 while imports were largely unchanged, lifting the surplus to roughly $1.2 trillion.
- Shipments to the United States fell steeply—about 20% for the year and roughly 30% in December—following tariffs imposed by President Donald Trump.
- Growth in other destinations offset U.S. losses, with exports to the EU up 8.4%, Southeast Asia up 13.4%, and Africa up 25.8%, and analysts report some rerouting via Southeast Asia to avoid U.S. duties.
- European institutions have urged Beijing to stimulate domestic consumption to relieve excess capacity and reduce pressure to export.
- Strategic and sectoral drivers stood out, including record rare-earth exports and record auto output, with 34.53 million vehicles produced and 16.626 million NEVs.