Jan-Aug incoming goods surged to 14.61 trln yuan, strongest growth since 2021
China's imports are on track to reach a new high this year, as its evolving market and continued opening-up generate more orders for foreign firms and broader opportunities across global supply chains, said commerce officials.
The country's imports rose 22 percent year-on-year to 14.61 trillion yuan ($2.18 trillion) in the first eight months, the strongest January-August growth since 2021, the Ministry of Commerce said.
Yang Tao, director-general of the ministry's department of foreign trade, said the strong growth comes as China steps up efforts to expand imports through policy support and trade promotion activities. These efforts are giving foreign enterprises greater access to the country's vast consumer market and industrial demand.
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Zhang Li, assistant minister of commerce, said the country has held the China International Import Expo for eight consecutive years and launched the "Big Market for All: Export to China" campaign, creating more channels and platforms for high-quality products from around the world to enter its market.
As more high-quality foreign products reach China's consumer market and become part of its industrial and supply chains, Zhang said the benefits of the country's import growth are extending beyond overseas exporters alone. This growth is generating new orders across related industries and supporting job creation in their home markets.
Chen Jianwei, a researcher specializing in foreign trade at the University of International Business and Economics in Beijing, said the acceleration in imports reflects not only stronger consumer demand, but also increased purchases by China's production sector as manufacturers secure raw materials, intermediate goods and equipment for future output.
Sustained growth in imports of production inputs can indicate manufacturers' confidence in future domestic and overseas demand, Chen said.
Ningbo Lingyue Intelligent Equipment Co Ltd, a lawn mower manufacturer in Ningbo, Zhejiang province, imported more than 60 million yuan worth of gasoline engines, axles, clutches and other key components from the United States during the January-August period, according to Ningbo Customs.
Zhang Enhui, the company's operations director, said the US remains both the company's largest source of imports and its biggest export market. Components sourced from the US account for more than 60 percent of its total imports, while sales to the US represent more than half of its exports.
"The recent tariff reductions announced by the US government will also benefit our exports, giving us greater confidence to increase research and development investment in response to overseas customer demand, and further expand our presence in the US market," said Zhang Enhui.
Import growth is not confined to industrial inputs, with growing consumer demand and more efficient customs clearance bringing a wider range of fresh foods and other high-quality products to Chinese consumers.
Between January and August, customs authorities at Nanjing Lukou International Airport in Nanjing, Jiangsu province, facilitated the clearance of 3,408 metric tons of imported fresh produce and seafood, including Norwegian salmon, tree-ripened durians from Malaysia, mud crabs from Bangladesh, and fresh peaches and plums from Australia, up 144 percent year-on-year.
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Guan Lixin, a researcher specializing in marketing and consumption at the Chinese Academy of International Trade and Economic Cooperation in Beijing, said China's consumption upgrading is creating new opportunities for foreign companies as demand shifts toward higher-quality, more diverse and specialized goods.
For foreign firms, this shift provides greater room to introduce premium products, tailor offerings to Chinese consumers, and invest more in innovation and local market development, said Guan.
Contact the writers at zhongnan@chinadaily.com.cn
