BEIJING: China has sent fresh signals of promoting more balanced development of imports and exports to optimise its trade structure and pursue high-quality growth.
A recent commentary article in the Qiushi Journal, a flagship magazine of the Communist Party of China (CPC) Central Committee, called for concrete steps to balance import and export growth.
“This is not only an inevitable requirement for expanding high-standard opening up, but also an important measure for achieving high-quality development and meeting the people’s aspiration for a better life,” the article said.
Promoting balanced import-export development is a key policy priority for the next five years, according to the outline of the 15th Five-Year Plan (2026 to 2030).
In recent years, policymakers have rolled out major initiatives to expand imports and promote balanced trade.
These include lowering China’s average tariff rate to 7.3%, close to developed-country levels, and leveraging major exhibitions such as the China International Import Expo to create important platforms for two-way opening up.
In 2025, China’s imports reached 18.48 trillion yuan (about 2.68 trillion US dollars), making the country the world’s second-largest importer for the 17th consecutive year.
Still, some Western politicians have fixated on China’s goods trade surplus, often portraying it as a deliberate move and weaponising it as an excuse for trade friction.
The Qiushi article emphasised that the trade surplus is not driven by policy.
The expanded trade surplus in recent years is the result of multiple factors, including stronger supply chains, improved manufacturing competitiveness and vigorous innovation, the article said.
“Promoting balanced development of trade is a strategic adjustment proactively made by the CPC Central Committee in response to the changing landscape of China’s economic development.”
Since joining the World Trade Organisation, China has deeply integrated into the multilateral trading system and global value chains, steadily expanding exports and emerging as the world’s largest exporter.
This has not only driven industrial upgrading and economic growth but has also provided the world with a vast array of quality, low-cost products.
Yet a larger export scale is not always better.
“Blindly chasing export expansion and trade surpluses carries potential risks to economic development that cannot be overlooked,” the article said.
The inherent characteristics of China’s large economy mean that the country can no longer rely on an export-orientated model from its earlier catch-up phase, the article said.
Trade balance is an inevitability, not a choice. Domestically, excessive allocation of resources and factors of production toward the export sector will, to some extent, crowd out industrial development related to domestic demand.
Internationally, the larger the share of exports in an economy, the more exposed it becomes to fluctuations in global markets.
A prolonged trade surplus can also make the economy a target for protectionist measures.
The Qiushi article further clarified that promoting balanced development of imports and exports does not mean pursuing a statistical balance, but rather focusing on capability enhancement. — Xinhua/ANN
