China's foreign trade at 70: From 'mutual exchange' to global lynchpin

Editor's note: Tian Huifang is a senior research fellow of Institute of World Economics and Politics, the Chinese Academy of Social Sciences.

This article reflects the author's views and not necessarily those of CGTN.

It has been translated from Chinese and edited for clarity and brevity.

Since the founding of the People's Republic of China more than 70 years ago, the total volume of China's goods trade has soared from about $1.1 billion in 1950 to over $6 trillion in 2025, and its proportion in global trade has also increased from less than 1% to 18.2%.

This process has not only reshaped the economic landscape of China, but has also profoundly shaped the division of labor in the global industrial chain and the trajectory of world economic development.

Relying on a complete industrial system and strong manufacturing capabilities, China's manufacturing added value has been ranked first in the world for 15 consecutive years, accounting for nearly 30% of the global total.

With over 200 major industrial products produced, China ranks first in the world and is the only country in the world to have all industrial categories classified by the United Nations Industrial Classification.

By 2025, China had not only cemented its position as the world's largest trading nation in goods, but also stood as the world's second-largest import market for 17 consecutive years.

In the first three quarters of 2026, China's import and export of goods reached 39.94 trillion yuan ($5.8 trillion), a year-on-year increase of 18.8%; Among them, exports amounted to 23.2 trillion yuan, an increase of 16.4%, while imports amounted to 16.74 trillion yuan, an increase of 22.3%.

The import growth rate is 5.9 percentage points higher than the export rate, indicating that China is both an important supplier and a continuously expanding global market.

Over the decades, China has exported massive amounts of high-quality and affordable electromechanical products, textiles, and daily consumer goods to the world, meeting the diverse needs of consumers in various countries and significantly enhancing the actual purchasing power of global consumers.

During the periods of the epidemic and geopolitical fluctuations, China, with its efficient supply chain resilience, ensured the global supply of medical supplies, key components, and daily consumer goods; effectively alleviated global inflationary pressures; maintained the smoothness and security of the international industrial chain; and played a role as a "stable anchor" and innovation node in the reconstruction of the global industrial chain.