China's imports in first half reached $1.55 trillion
When the world's largest economy boosts imports by 22%, it signals not only domestic demand but also confidence in global markets. Rising imports, especially of raw materials and components, indicate that Chinese industry is gaining momentum, while zero tariffs for 63 countries reaffirm the commitment to openness. The first half set a record that reflects not only figures but also strategy.
On Tuesday, Wang Jun, deputy head of the General Administration of Customs (GAC), told a press conference in Beijing that China's imports in the first half of the year reached 10.74 trillion yuan (about $1.55 trillion), up 22.1% year‑on‑year. This is the first time in history that imports for the same period have exceeded 10 trillion yuan. At the same time, the trade surplus narrowed by 4.7%. As part of its ongoing opening‑up policy, China has introduced zero tariffs for 63 countries. Over the six‑month period, China's imports from more than 150 countries and regions increased. According to Wang Jun, imports of metal ore and electronic components rose by 22.6% and 45.6% respectively, while imports of vegetable oil and seafood products grew by 19.2% and 24.1% respectively.
The rise in imports alongside a narrowing surplus points to a rebalancing of China's foreign trade towards greater consumption. Zero tariffs for 63 countries, mostly developing nations, are part of a strategy to expand access to the Chinese market and strengthen ties under the Belt and Road Initiative. Increased imports of raw materials and components reflect a revival in industrial production and the tech sector. As CCTV+ reports. The upward trend in imports is expected to continue in the second half, driven by seasonal demand and economic stimulus measures.
