Market-opening campaign and tariff exemption to boost imports

China's import growth outpaced export expansion by nearly 9 percentage points in the first five months of 2026, underpinned by robust domestic demand and broader market-opening measures, economists and government officials said on Tuesday.

They said two key policy initiatives will sustain strong import momentum throughout the year. The Ministry of Commerce's "Big Market for All: Export to China" campaign has broadened access to China's vast consumer and industrial markets for global exporters. The government's expanded zero-tariff treatment for all African countries that have diplomatic ties with China, which took effect on May 1, is also expected to support import growth.

China's foreign trade grew 15.3 percent year-on-year to 20.68 trillion yuan ($3.05 trillion) during the January-May period, with exports rising 11.8 percent and imports jumping 20.5 percent, data from the General Administration of Customs showed.

Wang Xiaohong, a researcher at the China Center for International Economic Exchanges in Beijing, said the strong growth in imports reflected the effectiveness of policies aimed at expanding imports, boosting consumption and advancing high-standard opening-up.

For example, China's imports from Africa surged 15 percent year-on-year to 95.13 billion yuan in May alone, marking the ninth consecutive month of growth, customs statistics showed.

The faster growth in imports also underscored China's role as a key engine of global demand, creating new opportunities for overseas exporters and supporting trade flows at a time when many economies are facing slower growth, Wang said.

Lynn Song, chief economist for China at Dutch bank ING, said that both China's imports and exports exceeded expectations in the first five months. This was partly supported by rising prices of high-tech products, which lifted the value of both outbound and inbound shipments.

"The country's trade structure is also becoming increasingly tilted toward technology-intensive goods," he added.

Echoing that view, Sheana Yue, senior economist at British think tank Oxford Economics, said China's industrial upgrading, technological advances and well-established supply chains have enhanced the competitiveness of Chinese products, helping to sustain trade growth and market share gains despite external uncertainties.

Lyu Daliang, director of the GAC's department of statistics and analysis, said China has deepened practical economic and trade cooperation with its partners since the beginning of this year and continued to serve as a stabilizing force for global trade.

Beyond supporting imports, China's broader opening-up efforts and regional trade agreements are also helping both domestic and foreign businesses integrate more deeply into regional supply chains, facilitating both imports and exports.

Techtronic Industries (Dongguan) Co, a Dongguan, Guangdong province-based manufacturer of power tools and outdoor garden equipment, imported goods worth 1.44 billion yuan from other economies of the Regional Comprehensive Economic Partnership agreement between January and May, according to information released by Huangpu Customs in Guangdong.

Zheng Jiancai, the company's head of customs affairs, said the RCEP agreement has helped lower sourcing costs and improve supply chain efficiency while expanding market access across the region.

"Our lithium-ion battery packs are mainly exported to Australia and New Zealand," said Zheng.

"Since the RCEP came into force, raw materials sourced from Malaysia have been treated as originating materials under the agreement, enabling our products to qualify for preferential tariffs and enjoy tariff reductions of up to 5 percent."

In addition to importing key parts and components into China, Marelli Holdings Co, a Japanese automotive parts manufacturer, is expanding its presence in the country in areas such as smart lighting, electronics and intelligent cockpit technologies, underscoring China's growing role in the company's global operations.

"China's highly developed supply chains, rapid commercialization of new technologies and strong engineering capabilities continue to create opportunities for both imports and exports," said Shen Kelei, the group's executive vice-president.

(Source: China Daily)