BEIJING, Nov. 5 (Xinhua) — The ninth version of the China International Import Expo (CIIE), China’s flagship shopping for platform, opened in Shanghai on Thursday, someday after the a hundred and fortieth Canton Fair, the nation’s premier export showcase, concluded in Guangzhou. Held back-to-back, the 2 occasions provide a recent lens to look at China’s overseas commerce.
DUAL FAIRS REFLECT CHINA’S TRADE FOOTPRINT
The numbers of abroad corporations and business heavyweights attending the ninth CIIE are set to achieve document highs this yr. More than 300 Fortune Global 500 corporations and business leaders are anticipated to take part, marking a document excessive, whereas over 2,000 corporations might be exhibiting for the primary time, in keeping with organizers.
This yr’s expo has attracted a document 4,142 abroad exhibitors from 148 international locations and areas. In complete, 162 international locations, areas and worldwide organizations are collaborating, mentioned China’s Ministry of Commerce.
On the banks of the Pearl River in south China, a gradual stream of orders on the Canton Fair served as proof of the strong international demand fueling China’s export efficiency.
China’s complete items imports and exports reached 39.94 trillion yuan (about 5.95 trillion U.S. {dollars}) within the first three quarters of 2026, with exports at 23.2 trillion yuan, up 16.4 p.c yr on yr, and imports at 16.74 trillion yuan, a 22.3-percent year-on-year enhance, in keeping with the General Administration of Customs (GAC).
THE STORY BEHIND TRADE FIGURES
Trade just isn’t easy arithmetic. Behind the surging commerce figures lies a protracted, interwoven division of labor throughout international provide chains. A rustic that’s extra environment friendly in a given business, with extra full supporting capability and sooner supply, will naturally appeal to orders.
Look past the figures, and the fuller image comes into focus: the excess is recorded in China, however the features are shared past its borders.
The distribution of features turns into clearer when a product’s worth chain is laid out. Vehicles constructed at Tesla’s Shanghai plant, lots of them shipped on to Europe and Asia-Pacific markets, are all counted as Chinese exports. This occurs on daily basis, as overseas corporations working in China produce for the world.
In the primary half of 2026, foreign-invested enterprises accounted for practically 30 p.c of China’s exports to the European Union, near 40 p.c of exports to the Republic of Korea, and greater than 30 p.c to rising markets comparable to Mexico and Vietnam, in keeping with customs information.
Foreign corporations contributed 27 p.c of China’s complete exports in 2025, which means roughly three in each ten items shipped from China got here from a foreign-funded manufacturing facility.
A product labeled “Made in China” could also be designed in Germany, use key parts from Japan and the Republic of Korea, draw uncooked supplies from Latin America, be assembled in China’s Yangtze River Delta or Pearl River Delta, and find yourself offered within the Middle East, Europe or South America.
The product leaves China and the excess is booked in China’s accounts, however the earnings are shared alongside the whole chain. Reading solely the excess with out asking how worth is distributed yields a partial conclusion.
Volkswagen presents a working example. After greater than 4 a long time in China, the group is shifting its technique from “In China, for China” to “In China, beyond China.”
“Over recent years, China has developed into a global automotive export hub. Volkswagen Group intends to participate more strongly in this development. We want to scale the capabilities we have built here beyond China,” mentioned Ralf Brandsttter, chairman and CEO of Volkswagen Group China.
Cars in-built China by Volkswagen are already exported to the Middle East and Central Asia, with ASEAN and South America set to observe.
The image seems comparable when viewing the combination information. In the primary three quarters of this yr, foreign-invested enterprises recorded 11.69 trillion yuan in imports and exports, up 19 p.c yr on yr and a document excessive for this era, in keeping with GAC.
Trade in intermediate items rose 27.4 p.c to 7.9 trillion yuan, whereas exports of high-tech merchandise jumped 42.1 p.c. More than 150 overseas corporations every dealt with over 10 billion yuan in commerce, 20 greater than a yr earlier, GAC information confirmed.
NEW DEMAND CREATES EXPANDED MARKETS
Nor is the market seen as a hard and fast pie to be divided. Global renewable vitality capability is projected to almost triple by 2030, a spot that requires huge quantities of fresh vitality gear to fill.
In the primary half of this yr, exports by personal corporations of the “new trio,” particularly electrical automobiles, lithium batteries and photovoltaic merchandise, surged by 45.8 p.c. Solar panels, lithium batteries and wind energy gear, in the meantime, are assembly new demand from the worldwide inexperienced transition somewhat than competing for saturated markets.
There are extra direct examples. Sustained excessive temperatures have pushed up cooling demand, and Europe’s air-conditioning market retains increasing, with European consumers touring to Guangzhou to buy in bulk on the Canton Fair.
As extra international locations speed up prefabricated development and tourism camp improvement, tight housing provide and quick deployment wants inquiries at prefabricated constructing supplies and modular housing cubicles have additionally grown quickly at this truthful.
A BROADER VIEW OF BALANCED TRADE
The surplus additionally must be learn alongside the broader steadiness of funds. China runs a big surplus in items commerce, however deficits in providers commerce and funding earnings. Its present account surplus is roughly 3.7 p.c of GDP, inside the vary extensively considered cheap internationally.
China stands as not solely a significant vendor but additionally a significant purchaser. Its imports reached 18.5 trillion yuan in 2025, making it the world’s second-largest import marketplace for 17 consecutive years and a significant export vacation spot for practically 80 international locations and areas, official information confirmed.
China, notably, doesn’t intentionally pursue a commerce surplus and has persistently labored towards extra balanced commerce. In the primary half of 2026, the nation’s imports exceeded 10 trillion yuan for the primary time on this interval.
COMPARATIVE ADVANTAGE BEATS ZERO-SUM THINKING
The level of financial and commerce exchanges just isn’t a zero-sum contest however using comparative benefits to ship improvement features to each participant within the chain.
Dani Rodrik, a professor at Harvard University, argued in a commentary in August that when main economies are operating at close to full capability, commerce deficits shouldn’t be a trigger for concern. Such deficits imply deficit nations eat extra items provided by surplus economies, a switch of buying energy from surplus international locations.
“Under the current circumstances, then, China’s widely criticized surpluses might as well be called enrich-thy-neighbor,” he wrote.
As the Canton Fair wound down, many consumers headed straight from Guangzhou to Shanghai. Their itineraries present not merely that China is opening up, however that each ends of the availability chain, and companions alongside it, have one thing to achieve.