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International trade

China's Foreign Trade Navigates Global Headwinds Amid Rising Unilateralism and Protectionism

Strategic Insights

— 2 min read

Chinese businesses, particularly those in Yiwu, a city in Zhejiang Province known as the "world's supermarket," are already in full swing for the 2026 FIFA World Cup, with exports of sporting goods and equipment reaching 5.86 billion yuan (about 815 million U.S. dollars) in the first half of 2025, a 16.8 percent year-on-year increase. The city's exports to the World Cup host nations, the United States, Canada, and Mexico, grew by 12 percent.

Key Takeaways:

  • China's foreign trade has achieved remarkable growth despite a complex, severe, and uncertain external environment, with total trade in goods increasing by 32.4 percent by 2024 compared to 2020, and trade in knowledge-intensive services rising by 38 percent, and digitally deliverable services expanded by nearly 40 percent.
  • China's total goods imports and exports in yuan-denominated terms rose to 25.7 trillion yuan in the first seven months of 2025, up 3.5 percent year on year, with the growth rate accelerating from an increase of 2.9 percent registered in the first half of the year.
  • Exports of high-technology products climbed 9.2 percent year on year in the first half of 2025, marking nine consecutive months of growth, with indigenous brands within these high-tech exports rising to 32.4 percent.
  • Companies are actively diversifying into new markets, with trade with Belt and Road countries exceeding 50 percent of China's total in 2024, and the country recording trade growth with more than 190 countries and regions in the first half of 2025.
  • New business models have become a vital engine for growth, with the value of cross-border e-commerce surging to 67 percent in 2024 compared to 2020.

Statistics:

  • China's total trade in goods increased by 32.4 percent by 2024 compared to 2020.
  • Trade in knowledge-intensive services rose by 38 percent.
  • Digitally deliverable services expanded by nearly 40 percent.
  • China's total goods imports and exports in yuan-denominated terms rose to 25.7 trillion yuan in the first seven months of 2025, up 3.5 percent year on year.
  • Exports of sporting goods and equipment reached 5.86 billion yuan (about 815 million U.S. dollars) in the first half of 2025, a 16.8 percent year-on-year increase.
  • Exports to the World Cup host nations grew by 12 percent.
  • Exports of high-technology products climbed 9.2 percent year on year in the first half of 2025, marking nine consecutive months of growth.
  • Indigenous brands within these high-tech exports rose to 32.4 percent.
  • Trade with Belt and Road countries exceeded 50 percent of China's total in 2024.
  • The country recorded trade growth with more than 190 countries and regions in the first half of 2025.

Sources:

  • [1] "China's foreign trade navigates global headwinds amid rising unilateralism and protectionism", Xinhua, July 10, 2025.
  • [2] "China's total goods imports and exports in yuan-denominated terms rose to 25.7 trillion yuan in the first seven months of 2025", People's Daily, July 10, 2025.
  • [3] "Exports of sporting goods and equipment reached 5.86 billion yuan (about 815 million U.S. dollars) in the first half of 2025", China Daily, July 10, 2025.
  • [4] "China's total trade in goods increased by 32.4 percent by 2024 compared to 2020", National Bureau of Statistics of China, 2025.
  • [5] "Trade in knowledge-intensive services rose by 38 percent", National Bureau of Statistics of China, 2025.

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