China's trade surplus is often erroneously treated by some as a problem to be solved. These people selectively overlook the high-tech export restrictions that many advanced economies impose on China and the fact that foreign companies capture a substantial share of China's trade surplus.
The latest data released by the General Administration of Customs of China on Tuesday offers a timely reminder that international trade should be judged by the opportunities it generates, not simply by numerical balances.
Reflecting the fact that its enormous market is increasingly a source of demand, investment and innovation, China's goods trade expanded 20 percent year-on-year to 44.81 trillion yuan ($6.67 trillion) in the first 10 months of 2026. Imports surged 23.6 percent from the same period last year, markedly outpacing the 17.6 percent increase in exports. Both have maintained double-digit growth for six consecutive months, while October alone recorded 31.2 percent growth in total trade year-on-year. These figures suggest that China's demand for foreign goods is growing vigorously.
Indeed, imports from more than 150 countries and regions increased during the January-October period, with purchases from the Association of Southeast Asian Nations, Latin America and Africa reaching record annual highs for the period. China's demand is obviously helping sustain commercial activity well beyond its borders.
The ninth China International Import Expo, which concluded in Shanghai on Tuesday, offered a tangible demonstration of this reality. The event attracted a record 4,142 overseas exhibitors, with its exhibition area reaching 370,000 square meters. More than 300 Fortune Global 500 companies and industry leaders participated, while 485 exhibits made their global, Asian or Chinese debuts. The value of one-year intended deals reached a record $85.45 billion, up 2.3 percent from the previous edition.
The numbers reflect the premium that overseas companies place on access to Chinese consumers, industrial partners and technological ecosystems. The expo's significance lies not simply in the deals signed during its six days, but in the commercial relationships and future investments it generated.
Besides its vast market, China's appeal is also rooted in the resilience of its industrial ecosystem. Reports that some multinational manufacturers are transferring parts of their production capacity from Southeast Asia back to China deserve attention. Such decisions suggest that supply-chain competitiveness is more important than low labor costs. The completeness of China's industrial system, its extensive network of suppliers, nondiscriminatory business environment and increasingly dynamic innovation ecosystem are unique advantages for manufacturers navigating an uncertain global economy.
Meanwhile, China's domestic market is evolving in ways that create new commercial possibilities. This year's Singles Day shopping festival has seen consumers adding AI tokens to their shopping carts. This signals the transformation of computing power into an increasingly accessible consumer resource, reflecting the upgrading of Chinese consumption and the emergence of new markets for technology providers.
Yet the benefits of these developments cannot be fully realized in a global trading environment under the threat of protectionism and unilateralism. Tariffs, restrictions and attempts to contain competitors are poor substitutes for addressing their underlying causes. Economies should instead preserve open markets, deepen investment cooperation, strengthen innovation and cultivate mutual understanding and trust. That can help expand the global economic pie, winning time and space to make its distribution more sustainable.
The world faces a simple binary choice between an interconnected economy that creates opportunities through competition and cooperation, and a fragmented one in which political barriers destroy them. China's growing imports, the international enthusiasm surrounding the CIIE and the evolution of its consumer market along with the country's pursuit of high-quality development demonstrate that the former remains both possible and beneficial.
