According to China's General Administration of Customs, the country's goods trade reached 44.81 trillion yuan in the first ten months of 2026. That is 20 percent more than a year earlier, and faster than the 18.8 percent recorded at the end of September. Over the same stretch of 2025 the growth figure was 3.6 percent. October alone came in at 4.87 trillion yuan, up 31.2 percent. It was the sixth straight month of double-digit growth for exports and imports alike.

Three shifts stand out in the customs tables.

First, the product mix has climbed. Exports of integrated circuits jumped 101.9 percent to 2.33 trillion yuan and memory components 132.5 percent, while high-tech products as a group gained 41.6 percent. Mechanical and electrical goods now make up 64.7 percent of all exports, 3.9 points more than a year ago. In the first three quarters, equipment manufacturing supplied nearly 90 percent of the increase in export value. Vehicle exports reached 9.74 million units, up 49.6 percent, and ship exports grew 22.4 percent in value. The labour-intensive goods behind the "made in China" caricature no longer drive the total.

Second, China has made itself part and parcel of the world's AI build-out, as seller and buyer at once. The World Trade Organization found that AI-enabling goods such as semiconductors and servers supplied 47 percent of global merchandise trade growth in the first half of this year. On that basis it more than doubled its 2026 forecast, from 1.9 to 3.9 percent. China's chip imports climbed 58 percent to 3.88 trillion yuan over the ten months, a bigger bill than its chip export earnings. In October, exports of automatic data-processing machines rose 114.7 percent.

Third, the map has widened. Trade with ASEAN, China's largest partner, grew 24.2 percent to 7.68 trillion yuan. Belt and Road partners now account for 22.88 trillion yuan, more than half of the total. Trade with the European Union increased 8.5 percent and with the United States 6.3 percent.

Imports grew 23.6 percent over the ten months, six points faster than exports. In October they rose 34.7 percent in yuan terms, and in dollar terms the October gain was the fastest since 2021. China recorded import growth from more than 150 countries and regions, and its purchases from ASEAN, Latin America and Africa hit record highs for the period.

Lyu Daliang, who heads the statistics department at the customs administration, said this week that China's market "continues to offer opportunities for countries around the world." The procurement figures back him. At this month's China International Import Expo, intended deals reached a record $85.45 billion. Agreements with GE Aerospace alone came to more than $12.9 billion.