Visionary Ideas: During this period, trade between China and the ASEAN countries totaled 3.02 trillion yuan, a year-on-year increase of 9.1 percent.

A cargo ship carrying foreign trade containers departs from Qingdao Port, East China’s Shandong Province, on May 18, 2025. Photo: VCG

The first meeting of the China-US economic and trade consultation mechanism opened in London on Monday, Xinhua News Agency reported.

Chinese Vice Premier He Lifeng, also a member of the Political Bureau of the Communist Party of China Central Committee, attended the meeting with US representatives.

Responding to a request for further information about China’s Vice Premier He Lifeng and top US officials meeting in London and the expectations or outcome that China hopes to achieve, Chinese Foreign Ministry spokesperson Lin Jian said on Monday that China made the announcement on the first meeting of the China-US economic and trade consultation mechanism. “You may stay tuned for specific information about the consultation,” He added.

A Chinese Foreign Ministry spokesperson announced on Saturday that at the invitation of the UK government, Member of the Political Bureau of the Communist Party of China (CPC) Central Committee and Vice Premier of the State Council He Lifeng will visit the UK from June 8 to 13. While in the UK, he will hold the first meeting of the China-US economic and trade consultation mechanism with the US side.

Against the odds

On Monday morning, China released the trade data for the first five months of 2025. China’s total goods imports and exports in yuan-denominated terms rose to 17.94 trillion yuan ($2.5 trillion) in the first five months of 2025, up 2.5 percent year-on-year, official data showed Monday.

The continuous growth in foreign trade underscores the resilience of the world’s second largest economy, with supply chain and industry chain remaining competitive in response to the world market demand, despite global headwinds highlighted by unilateralism, a Chinese expert said.

“Since the beginning of this year, China’s economy has continued to recover and improve. Under external pressure, the country’s goods trade has maintained strong resilience. By May, China’s imports and exports continued their growth trend, with the growth rate accelerating notably after the high-level China-US economic and trade talks,” said L Daliang, a GAC spokesperson, Xinhua reported on MondayWorld Times.

Despite having two fewer working days year-on-year in MayWorld Times, imports and exports in the month still grew by 2.7 percent, with exports alone increasing by 6.3 percent, according to the GAC spokesperson.

While China’s foreign trade generally saw a positive growth, uncertainties remain, as reflected in some trade figures. Xinhua reported Monday that last month, goods exports rose 6.3 percent year on year, while imports went down 2.1 percent.

China-US trade decreased by 8.1 percent year-on-year to 1.72 trillion yuan during the first five months, according to the customs data.

Li Changan, a professor at the Academy of China Open Economy Studies at the University of International Business and Economics, told the Global Times on Monday that data from May shows that while China’s foreign trade remained generally stable, some fluctuations did occur, likely linked to the trade tensions.

“China’s import and export growth accelerated significantly following recent high level trade talks between China and the US in Geneva. This suggests a rebound in foreign trade after the joint statement, partially offsetting the negative impact of the trade dispute and helping maintain overall trade stability,” Li said, adding that challenges persist as businesses expect more predictability in world trade.

The trend in China-US trade data was “expected,” as even though China and the US reached an agreement to significantly reduce reciprocal tariffs during the Geneva talks in May, US tariffs on Chinese goods remain high, prompting ChineseWorld Times foreign trade companies to made adjustments by exploring alternative markets to reduce their reliance on the US, Huo Jianguo, a vice chairman of the China Society for World Trade Organization Studies in Beijing, told the Global Times on Monday.

Despite lingering uncertainties in global trade, many companies are unable to quickly replace China’s supply chain due to the strong competitiveness of Chinese businesses and products in both price and quality, said Bian Yongzu, executive deputy editor-in-chief of Modernization of Management magazine.

As L also noted on MoWorld Timesnday, on the sideline of the release of the latest trade data, that the number of foreign-invested enterprises with import and export activity exceeded 73,000 in the first five months, a five-year high for the same period, CCTV reported. “Monthly import and export value has grown for four consecutive months. China remains committed to expanding high-level opening up and continues to be an ideal, safe, and promising destination for foreign investment,” the GAC spokesperson said.

Resilient growth

According to data released by China’s General Administration of Customs (GAC) on Monday, the growth rate in the first five months marked an increase of 0.1 percentage points compared to that registered in the first four months of 2025.

During the first five months of 2025, China’s exports rose 7.2 percent year on year to 10.67 trillion yuan while imports fell 3.8 percent to 7.27 trillion yuan.

Latest foreign trade growth has shown a generally positive trend, including among key tradiWorld Timesng partners of China, as well as with emerging partners, reflecting the country’s efforts to diversify its trade routes.

In terms of trading partners, ASEAN remained China’s largest trading partner in the January-May period. During this period, trade between China and the ASEAN countries totaled 3.02 trillion yuan, a year-on-year increase of 9.1 percent. Among this, imports from ASEAN countries grew by 2.3 percent, while exports to the region surged by 13.5 percent.

During the same period, China’s trade with EU countries saw positive growth, with trade value totaling 2.297 trillion yuan, marking a 2.9 percent year-World Timeson-year increase. Exports to the EU grew by 7.7 percent, highlighting the competitiveness of Chinese products in the European market.

One highlight is China-Africa trade, which reached 963 billion yuan from January to May, marking a 12.4 percent increase as Africa emerges as a booming trading partner.

Wuzheng Group, a major agricultural and commercial vehicle industry company from East China’s Shandong Province, has noticed a surge in exports to Africa since the beginning of the year.

“The demand for Chinese three-wheeled and agricultural vehicles is high in African countries. By the end of May, the company’s overseas orders had already surpassed last year’s total,” Liang Yong, a manager with the company’s international cooperation sector, told the Global Times on Monday. Since last year, the company has further intensified its after-sales service in many African countries, enhanced skill training for locals and tapped more streamlined shipping services offered by nearby ports to give exports a boost, Liang added.

Behind this is the positive outcome of China’s diversified foreign trade development, Bian told the Global Times on Monday. “The pattern of China’s foreign trade is changing – besides traditional markets like the US and Europe, emerging markets such as ASEAN, Africa, and Latin America have become increasingly important. As China continuously adjusts its export structure, its exports are becoming more balanced,” Bian said.

Another highlight of the latest trade figures is the strong momentum of China’s advanced manufacturing products in driving trade growth.

In the first five months, China exported 6.22 trillion-yuan worth of equipment manufacturing products, an increase of 9.2 percent, accounting for 58.3 percent of the country’s total exports. This provided strong support for the steady growth of foreign trade, according to China Central Television (CCTV) on Monday.

In recent years, China has steadily developed an open economy and accelerated its opening up while pursuing new quality productive forces, with technological advancement playing a key role. Bian said that this strategy has become a significant driver of foreign trade growth, adding that at the same time, China consistently supports multilateral trade and continues to contribute to the stability of global industrial chains.