Import surge points to solid domestic demand

Faster growth of imports over exports in the first quarter of the year underscores China's strengthening domestic demand and the growing potential of its vast market that offers fresh opportunities for global businesses amid an uncertain external environment, government officials and business leaders said on Tuesday.

The country's foreign trade grew 15 percent year-on-year to 11.84 trillion yuan ($1.74 trillion) in the first quarter of 2026, as faster import growth of 19.6 percent outpaced export growth of 11.9 percent, according to the latest data released by the General Administration of Customs.

The latest trade data points to solid economic fundamentals and the growing role of domestic demand in supporting overall trade growth, highlighting China's expanding market as a shared opportunity for global businesses.

Wang Jun, vice-minister of the General Administration of Customs, said that China is positioning itself not only as the "world's factory", but also as a major global market despite mounting global economic instability.

This positioning is also reflected in China's policy efforts aimed at expanding imports and deepening market opening.

Speaking at a news conference in Beijing, Wang said the GAC will continue to improve clearance supervision and services to support import growth and help turn China's vast market into a shared opportunity for the world.

Market participants said these measures reinforce expectations of a more demand-driven and balanced growth pattern.

Lorenzo Riccardi, chairman of the Italian Chamber of Commerce in China, said China's push to expand imports and deepen market opening reflects a structural shift toward more balanced and demand-driven growth, reinforcing its role as a stabilizing force in global trade.

Poh-Yian Koh, president of FedEx China, the United States-based express transportation service provider, said that as domestic consumption continues to upgrade and supply chains become more diversified, China is increasingly seen not only as a manufacturing hub, but also as a critical destination for global goods and services.

This sentiment is supported by broader policy initiatives to facilitate trade and connect global suppliers with Chinese buyers.

These efforts are being reinforced by the "Big Market for All: Export to China" initiative launched by the Ministry of Commerce, featuring more than 100 events this year designed to help overseas suppliers connect with Chinese buyers and bring a wider range of high-quality foreign products and services into the Chinese market.

Meanwhile, analysts cautioned that external uncertainties still pose risks to trade dynamics.

Louise Loo, head of Asia Economics at British think tank Oxford Economics, warned that higher energy prices linked to disruptions in the Strait of Hormuz pose downside risks to China's import bill by driving up costs.

However, demand destruction under severe supply shocks would likely weigh more heavily on developed markets than on emerging economies, she added.

At the company level, Ningbo Today Food Co, a tuna processor based in Ningbo, Zhejiang province, sources frozen tuna from overseas, processes it domestically into canned, freeze-dried and fish oil products, and exports to more than 30 countries and regions.

The company's imports topped 40 million yuan and its exports exceeded 60 million yuan in the first quarter, statistics from Ningbo Customs showed.

"By buying globally and selling globally, we meet domestic demand while supplying high-quality products to international markets," said Xia Di, the company's president.

Similar import momentum is also visible in other food-processing inputs. Huangpu Customs in Guangdong province oversaw 64,800 metric tons of palm oil imports in January-March, up 91.3 percent year-on-year, as palm oil, valued for its thermal and oxidative stability, is widely used in frying and baking.

Yifan Xu in Washington contributed to this story.