China eyes more balanced trade for economic resilience

China will "promote balanced trade" this year by expanding imports while stabilizing exports, a strategy that aims to turn its domestic market into development opportunities shared by trading partners worldwide, officials and economists said.

"China will leverage its super-sized domestic market advantages to expand imports of agricultural products, quality consumer goods, advanced technology equipment and key components," said Commerce Minister Wang Wentao on Friday.

As the world's second-largest import market, China possesses substantial untapped market potential underpinned by its rapidly expanding middle-income group, Wang said at a news conference on the sidelines of the fourth session of the 14th National People's Congress, the country's top legislature.

"Exports and imports function like the two wheels of a vehicle — the more balanced they are, the smoother and farther the vehicle travels," Wang said.

The General Administration of Customs said China's imports totaled 18.48 trillion yuan ($2.68 trillion) in 2025, accounting for around 10 percent of global imports.

Robert Koopman, former chief economist at the World Trade Organization, said that over the next five to 10 years, "an important evolution in China's role is going to shift toward being a big center of demand" for the rest of the world.

In November, China launched the "Big Market for All: Export to China" campaign — a series of events designed from the perspective of its trading partners to expand import channels and promote the entry of more high-quality products and services from around the world into China.

"In an era of rising protectionism and unilateralism, a market of such scale and openness has become perhaps the world's most sought-after resource," said Liao Fan, director of the Chinese Academy of Social Sciences' Institute of World Economics and Politics.

The import-friendly efforts also align with Beijing's push to boost consumption as Chinese households increasingly seek diverse products and services that foreign suppliers are well-positioned to provide, said economists and executives.

Marshall Mills, the International Monetary Fund's senior resident representative in China, said that China's rebalancing toward consumption-led growth would help narrow global trade imbalances and support stronger, more sustainable development worldwide, as the country's large current account and trade surpluses are expected to decrease over time amid the rebalancing process.

Zhang Ying, managing director of French software company Dassault Systemes Greater China, said that China's "unique innovation atmosphere and vast market prospects" offer massive possibilities for foreign businesses.

Zhang added that the company plans to strengthen its presence in new energy vehicles, smart manufacturing and the low-altitude economy to seize emerging opportunities.

Meanwhile, Commerce Minister Wang emphasized the need to stabilize exports in the face of a "complex and severe" external environment.

Wang said China will accelerate the development of digital and green trade, and promote the export of artificial intelligence products and green power equipment to foster new momentum for foreign trade.

Moreover, China will accelerate negotiations for more free trade agreements and expand its "circle of friends" to help enterprises better connect with diverse markets, Wang said, adding that overall exports in 2025 grew 6.1 percent year-on-year, despite a 19.5 percent plunge in shipments to the United States.

Contact the writers at wangkeju@chinadaily.com.cn