China Pledges More Imports as Surplus Hits Record
Exporters and importers trading with China should prepare for shifting trade terms as external pressure on the surplus builds toward the December G20 summit.
Updated on Nov. 5, 2026 in International Trade
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China's Vice-Premier Ding Xuexiang pledged to expand imports at the China International Import Expo in Shanghai and rejected criticism of China's widening trade surplus. China recorded a surplus of US$938.1 billion in the first nine months of 2026, following a record US$1.2 trillion last year.
Why it matters
A larger Chinese trade surplus shapes how exporters, importers and suppliers worldwide price, source and compete, and it is drawing external pressure that could affect trade rules. Foreign companies accounted for 27 per cent of China's 2025 exports but only 16 per cent of its trade surplus, meaning much of the surplus is generated outside foreign-invested firms.
China's trade surplus reached US$938.1 billion in the first nine months of 2026, after a record US$1.2 trillion in 2025. The 2026 CIIE drew 4,142 exhibitors across more than 440,000 square metres, including more than 2,000 first-time exhibitors and over 300 Fortune Global 500 companies.
The players
Ding Xuexiang
Chinese Vice-Premier overseeing the country's trade and economic policy, who spoke at the CIIE opening ceremony.
China International Import Expo (CIIE)
Shanghai trade exhibition that showcases foreign products and services to the Chinese market.
G20
Group of major economies whose December 2026 summit in Miami is expected to raise pressure on China's trade position.
The details
Ding Xuexiang addressed the opening ceremony of the six-day China International Import Expo, pledging wider imports and calling for the removal of trade barriers. China attributes its surplus to its position in global supply chains and its comparative advantages, while noting that normal trade in certain hi-tech products has been disrupted and restricted. The expo will for the first time release a report on countries' export opportunities in the Chinese market.
Timeline
2025: Foreign companies' share of China's exports and surplus was recorded.
November 5, 2026: Ding Xuexiang spoke at the CIIE opening ceremony in Shanghai.
December 2026: The G20 summit in Miami is expected to raise greater external pressure on China.
Market Landscape
China's trade surplus, now at record levels, is drawing scrutiny at the G20 summit in Miami in December. The CIIE's push to expand imports is positioned against that pressure, with 27 per cent of 2025 exports coming from foreign companies.
Operators importing Chinese goods or selling into China should watch for tariff and trade-barrier changes tied to the G20 discussions. Exporters to China may find expanded import opportunities, particularly through the expo's new report on export openings in the Chinese market.
The takeaway
Trade-exposed operators should treat China's record surplus as a signal that external pressure on Chinese trade policy is rising into December. Review supplier and export terms against the G20 agenda, and track the CIIE's first-ever report on export opportunities in the Chinese market.
What happens next
The G20 summit in Miami in December 2026 is expected to bring greater external pressure on China over its trade surplus.
Further reading
For broader context on how trade balances shape global markets, see International Trade.
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