en.Wedoany.com Reported - The latest data from the General Administration of Customs shows that in the first five months of this year, China's total foreign trade in goods reached 20.68 trillion yuan, a year-on-year increase of 15.3%, maintaining a stable growth trend. In May alone, the total import and export value was 4.45 trillion yuan, with the year-on-year growth rate expanding to 16.9%. Monthly imports and exports have remained above the 4 trillion yuan mark for three consecutive months.
On the export side, exports in the first five months reached 11.91 trillion yuan, up 11.8% year-on-year, accelerating by 0.5 percentage points compared to the first four months. On the import side, cumulative imports totaled 8.77 trillion yuan, up 20.5% year-on-year, also accelerating by 0.5 percentage points. In May, imports grew by 21.5%, marking the third consecutive month of over 20% year-on-year growth. With improving external demand in manufacturing, imports of electromechanical products rose by 25.3% in the first five months, while imports of intermediate goods for manufacturing increased by nearly 40%. Wang Jun, Vice Minister of the General Administration of Customs, stated that the manufacturing PMI in May stood at 50%, indicating overall stable business operations. The PMI for high-tech manufacturing and equipment manufacturing remained above the threshold, highlighting the continued leading role of new growth drivers.
The foreign trade structure continues to optimize, with AI-related products emerging as a new growth driver. In the first five months, imports and exports of AI-related products, including electronic components, computer parts, and optical fiber cables, totaled 4.12 trillion yuan, surging 52.4% year-on-year. Exports of high-tech, high-value-added electromechanical products reached 7.58 trillion yuan, up 18.4% year-on-year, accounting for over 60% of total exports. Green products such as lithium batteries and wind turbine generators saw export growth of about 40% year-on-year. Industry analysts suggest that driven by the AI investment boom, overall external demand remains relatively strong. In May, rising prices of chips, computer parts, and electronic components boosted export performance. A relevant official from the General Administration of Customs noted that AI-related product imports and exports are expanding month by month, with the "AI content" of foreign trade steadily increasing.
From the "new three" exports—new energy vehicles, lithium batteries, and photovoltaic products—gaining popularity overseas, to the rapid growth of the "new new three"—AI, robotics, and innovative drugs—China's trade structure is undergoing profound changes. Analysts believe that China is transforming from the "world's factory" into the "factory of factories," with significant expansion in exports of intermediate goods such as processors, chips, and lithium-ion batteries, as well as capital goods like equipment and machine tools, reflecting the confidence of industrial upgrading and the momentum of innovation-driven growth.
In terms of market vitality, imports and exports with African countries in the first five months reached 1.14 trillion yuan, surpassing the trillion-yuan mark for the first time in the same historical period, up 18.2% year-on-year. In May, imports from Africa stood at 95.13 billion yuan, up 15% year-on-year, marking nine consecutive months of growth. Private enterprises maintained their position as the largest foreign trade entity, with imports and exports totaling 11.81 trillion yuan, up 15.5% year-on-year. Foreign-invested enterprises recorded imports and exports of 6.02 trillion yuan, up 15.7% year-on-year. Experts point out that zero-tariff measures have propelled China-Africa trade to a new level, and national-level exhibition platforms such as the Canton Fair and the China International Import Expo in the second half of the year will further boost foreign trade. As of June 5, the Shanghai Containerized Freight Index (SCFI) closed at a relatively high level, while the Ningbo Containerized Freight Index (NCFI) also rose in tandem, both significantly higher than the same period in 2025.
Regarding future trends, experts believe that the strong momentum is likely to continue in the short term, with export growth in June expected to remain at a high level of around 17% year-on-year. However, caution is needed as external demand may diverge between the "first half" and "second half" of the year. If consumption and investment demand in developed economies cool, weakening external demand could spill over to China's exports. Additionally, the AI investment boom itself carries uncertainties, posing a risk of a rapid slowdown in export growth in the second half of the year. Furthermore, price-driven export value inflation may inflate export delivery values. If physical shipment volumes do not keep pace after adjusting for prices, the impact of the export chain on employment, industrial added value, and domestic demand cycles may be weaker than the data suggests. On the policy front, experts recommend expanding the coverage of export credit insurance, optimizing cross-border trade facilitation measures, and expanding the pilot zones for cross-border e-commerce comprehensive trials to help enterprises stabilize orders. At the same time, efforts should be accelerated to cultivate export growth points beyond the "new three" to reduce dependence on a single industry.
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