Beijing: China announced on Saturday a new foreign trade strategy for 2026 aimed at significantly boosting both exports and imports in a bid to create a more balanced and “sustainable” pattern of international commerce. Senior economic official Han Wenxiu, deputy director of the Central Financial and Economic Affairs Commission, emphasized that the country must shift from its traditional focus on export-led growth toward a model that supports broader economic stability and deeper global integration. The announcement reflects mounting international scrutiny of China’s massive trade surplus and persistent external imbalances that have drawn criticism from institutions like the International Monetary Fund.
Chinese policymakers argue that expanding imports is central to fostering mutually beneficial international cooperation and alleviating global trade tensions. Han underscored the importance of opening China’s markets to quality goods and services from abroad while also encouraging the export of services such as tourism, education, and digital offerings. This approach, Chinese officials say, will help address criticisms of China’s production-heavy trade model and lay the groundwork for a more diversified and resilient economy.
The policy recalibration comes at a time when global economic discourse is increasingly focused on trade sustainability and domestic demand stimulation. The IMF has recently urged China to make a “brave choice” by reducing its reliance on exports and bolstering domestic consumption as a driver of growth a move seen as vital not only for China’s long-term economic health but also to ease mounting global trade frictions.
China’s record trade surplus estimated at around $1 trillion in 2025 has become a flashpoint in global trade narratives, prompting calls from international bodies to correct persistent imbalances. Observers argue that such a surplus intensifies geopolitical economic tensions and could invite retaliatory trade measures from major partners. Chinese authorities, in response, are promoting policies that widen market access, stimulate household consumption, and encourage the import of high-quality foreign products to foster a more reciprocal trade ecosystem.
Domestically, Beijing’s shift toward a more consumption-oriented economic structure is also evident in broader policy frameworks. Central economic meetings have placed stronger emphasis on expanding domestic demand, increasing household incomes, and stimulating service sectors factors that analysts view as complementary to the new export–import strategy. In parallel, preparations for the 2026 China International Service Trade Fair highlight the growing role of high-value service trade as a key pillar of China’s international commerce ambitions.
However, experts caution that realigning China’s trade model will not be straightforward. Decades of reliance on manufacturing and export competitiveness have been deeply embedded in China’s economic fabric. Structural reforms aimed at invigorating domestic consumption and reducing export dependency may encounter resistance from entrenched industrial interests and require sustained policy innovation.
As Beijing moves forward with its 2026 trade agenda, the global economic community will be watching closely to see how these strategies translate into tangible trade outcomes and influence international market dynamics. China’s push for “sustainable” trade growth represents a notable evolution in its economic diplomacy, with implications that extend far beyond its borders.