China posts record trillion-dollar trade surplus despite US tariffs

China reported a full-year trade surplus of $1.189 trillion for 2025, with exports and imports both beating forecasts, customs data showed.

China reported a full-year trade surplus of $1.189 trillion for 2025, customs data showed. The surplus first exceeded the trillion-dollar mark in November. Officials said exports and imports both beat forecasts and that a wider set of trading partners had strengthened the country's ability to withstand risks. Beijing has leaned on exports to offset weak domestic demand and a prolonged property slump. Key points: - The full-year trade surplus was $1.189 trillion, a record figure for China. - December exports rose 6.6% year-on-year and imports rose 5.7%, both exceeding economists' expectations. - Wang Jun, a vice-minister at China’s customs administration, described the external environment as severe and complex but said diversification of partners had improved resilience; Premier Li Qiang has called for expanding imports to rebalance trade. - Chinese firms are shifting sales and production toward Southeast Asia, Africa and Latin America and opening overseas hubs, while US duties of about 47.5% on some Chinese goods remain in place. Summary: The surplus highlights persistent export momentum and could heighten concerns among other economies about trade imbalances and overcapacity. Beijing has signalled adjustments, including removing some solar export tax rebates and accelerating revisions to the foreign trade law. Undetermined at this time.