Large lifting equipment conducts container loading and unloading operations at a logistics base in Haian Trade and Logistics Industrial Park, Nantong, East China's Jiangsu Province on May 9, 2025. Photo: VCG

China's exports in April surged 9.3 percent in yuan-denominated terms to 2.27 trillion yuan ($314.17 billion), beating expectations as the country's trade expanded at a solid pace despite hefty US tariffs on Chinese goods, official data showed Friday.

The single-month trade achieved a year-on-year increase of 5.6 percent in yuan-denominated terms to 3.84 trillion yuan, and the imports recorded a year-on-year growth of 0.8 percent to 1.57 trillion yuan, according to data released by the General Administration of Customs (GAC). 

In US dollar term, China's exports surged by 8.1 percent year-on-year to $315.69 billion, while the imports declined by 0.2 percent year-on-year to $219.51 billion.  The figure for April exports sharply beat a Reuters poll, which estimated a 1.9 percent increase in exports and a 5.9 percent drop in imports. 

In the first four months of 2025, the country's trade in goods went up by 2.4 percent year-on-year to 14.14 trillion yuan, with the growth rate accelerating by 1.1 percentage points compared with the first quarter. Exports during the four months surged by 7.5 percent to 8.39 trillion yuan, while imports went down by 4.2 percent to 5.75 trillion yuan.  

China's foreign trade has demonstrated remarkable resilience against US tariffs, a trend that underscores the irreplaceable role of China's manufacturing sector in meeting global market demand. This performance also reflects China's proactive efforts to expand international trade partnerships, optimize trade relations, and actively engage in the integration of global supply chains, Zhou Mi, a senior research fellow at the Chinese Academy of International Trade and Economic Cooperation, told the Global Times on Friday.

The manufacturing sector exhibits robust adaptability and innovation capabilities, enabling it to meet the diverse demands of global consumers. Meanwhile, the domestic market continues to strengthen purchasing power, enhance market connectivity, and reduce barriers, creating broader opportunities for imported goods, Zhou noted. He noted that China's openness continues to expand, providing robust support for the bidirectional flow of foreign trade with proactive reforms in trade infrastructure, from logistics optimization to customs facilitation.

Closely watched data 

The GAC highlighted the contribution made by Chinese private enterprises, which recorded a 6.8 percent year-on-year growth in foreign trade and accounted for 56.9 percent of China's total foreign trade value. Product-wise, electromechanical products accounted for more than 60 percent of exports, which recorded a year-on-year increase of 9.5 percent.  

As for trading partners, ASEAN remains China's top trading partner, with the trade value growing 9.2 percent year-on-year to 2.38 trillion yuan. The EU stood as the second-largest partner, as the trade value grew 1.1 percent to 1.78 trillion yuan. 

The US was China's third-largest trading partner, with the trade volume decreasing 2.1 percent to 1.44 trillion yuan. China's exports to the US declined by 1.5 percent to 1.07 trillion yuan while imports dropped by 3.7 percent to 369.95 billion yuan. 

The April data was closely watched as it came after the US imposed hefty tariffs against China and ahead of the high-stakes economic and trade talks between the world's two largest economies.

When reporting on China's April trade, some foreign media outlets focused on the better-than-expected export performance.  They are also closely watching the economic and trade talks between the world's two largest economies, which are scheduled to take place in the upcoming few days. 

CNBC reported that exports jumped 8.1 percent last month in US dollar terms from a year earlier, according to data released by customs authorities on Friday, sharply beating Reuters' poll estimates of a 1.9 percent rise.

Reuters reported that China's exports beat forecasts in April, buoyed by demand for materials from overseas manufacturers, adding that "businesses on both sides of the Pacific will be looking for some kind of resolution at closely watched trade talks in Switzerland this weekend."

Zhou stressed that the April figures showed China's resilience and adaptability against tariff headwinds.    

Also, China's economy grew 5.4 percent in the first quarter, which was higher than last year's average growth rate of 5 percent and also exceeded the same period last year, ranking among the forefront of the world's major economies.  

Wang Peng, an associate research fellow at the Beijing Academy of Social Sciences, told the Global Times on Friday that the country's continuous opening-up is an important internal drive contributing to its resilience, especially through utilizing logistics connectivity such as the China-Europe freight trains and regional platforms including the Regional Comprehensive Economic Partnership to deploy in emerging markets. 

Amid the global resurgence of trade protectionism, China is poised to consolidate its global market share through market diversification and the cultivation of new trade models such as cross-border e-commerce and digital trade, Wang said. 

Vulnerabilities of US economy
 
The US GDP shrank 0.3 percent in the first quarter of 2025, the Xinhua News Agency reported on May 1, citing the US Commerce Department. It marked the first quarter of negative growth in three years, raising concerns of a looming recession, according to the report. 

The Conference Board, a non-profit business membership and research organization, said earlier that its consumer confidence index fell 7.9 points in April to 86, its lowest reading since May 2020. Nearly one-third of consumers expect hiring to slow in the coming months, nearly matching the level reached in April 2009, when the economy was mired in the Great Recession, according to media reports. 

Federal Reserve chair Jerome Powell made clear he won't be rushed into lowering borrowing costs until there's more certainty on the direction of trade policy, Bloomberg reported on Thursday. "If the large increases in tariffs that have been announced are sustained, they are likely to generate a rise in inflation, a slowdown in economic growth, and an increase in unemployment," Powell said, according to a transcript on the Fed's website.

The US tariffs have continuously sparked domestic concerns. Federal Reserve Governor Michael Barr said the current administration's trade policies could put the US central bank in a difficult position by generating persistent inflationary pressures and higher unemployment, according to a separate Bloomberg report on Friday. 

High tariffs have undermined the sustainable development of bilateral economic and trade cooperation, particularly inflicting considerable damage on the interests of relevant stakeholders especially those in the US, Zhou said. 

Free trade between any two nations or economies benefits all parties by creating synergies, as it expands markets and boosts demand, which in turn benefits others through larger economic opportunities. When major powers like China and the US collaborate, their spillover effects multiply, Gao Lingyun, a researcher at the Chinese Academy of Social Sciences in Beijing, told the Global Times, adding that cooperation leaves no losers, confrontation yields no winners. 
 
Many nations believe that the positive spillover effects can benefit the broader international system, Zhou noted. He added that a critical premise for resolving issues through dialogue is China's commitment to being a responsible major power, one that approaches international economic relations with adherence to multilateral rules. 

Gao said that China has made it unequivocally clear that equality, mutual respect, and the complete removal of all unjustified restrictive measures must serve as the foundation for any talk.

Commenting on the upcoming high-level economic and trade meeting, a spokesperson from the Ministry of Commerce said on Wednesday that any negotiations must be based on mutual respect, equality, and reciprocal benefit. The spokesperson said the US side must demonstrate sincerity, correct its wrong practices, and meet China halfway in a bid to resolve the concerns of both sides through equal consultation.

Speaking on ongoing negotiations between the US and other economies, the spokesperson said that appeasement does not bring peace, compromise does not lead to respect, and only by holding firm to principles, fairness and justice can countries safeguard their interests.