Key Points
- China’s foreign trade grew by 4% in the first three quarters of the year.
- Exports were the main driver, rising by 7.1%, while imports were flat.
- The country is seeing a major shift toward exporting high-tech, green products.
- Chinese companies are successfully diversifying their export markets to counter U.S. trade policies.
China’s foreign trade is showing surprising resilience, growing by a solid 4% in the first nine months of the year despite a shaky global economy and rising trade protectionism. A senior government official said on Monday that the country’s strong economic fundamentals and a growing focus on innovation will continue to support stable trade growth.
The latest data from China’s customs agency shows that exports were the main driver, rising by 7.1% from January to September. Imports, on the other hand, were basically flat. This steady performance is a testament to the strength and efficiency of China’s massive production and supply chains.
A key part of the story is the ongoing shift in what China is selling to the world. The country is rapidly expanding its production of high-tech, green products like electric vehicles and solar cells. This is helping to bolster its export growth as it moves away from traditional, low-tech manufacturing.
Chinese companies are also getting smarter about navigating the choppy waters of global trade. With frequent changes in U.S. trade policy, many firms are aggressively expanding into new, more diverse overseas markets.
One company that makes smart watches saw its exports soar by an incredible 700% this year by targeting new customers in Southeast Asia and the Middle East. Another bicycle manufacturer has successfully broken into high-end European markets by focusing on innovation and quality.
