Private sector vital for trade resilience

China's foreign trade is off to a solid start in 2025. In the first quarter, the total value of imports and exports reached 10.3 trillion yuan ($1.41 trillion), up 1.3 percent from the same period last year. Exports climbed 6.9 percent to 6.13 trillion yuan, while imports fell 6 percent. The number of trading firms rose by 33,000 to 529,000. These figures signal a quiet restructuring of China's global trade map.

Beneath the headline numbers, deeper trends are unfolding. One is geographical: the map of China's exports is subtly getting redrawn, with new strength building in Western markets as the East cools. Another is structural: private enterprises are taking the lead in trade activity. A third is technological: high-tech and specialized products are occupying a growing share of exports.

Since the US-China trade war began in 2018, China's trade has become more diversified — and less dependent on the US, whose share of China's exports fell from 19.2 percent in 2018 to 14.7 percent in 2024.