ECONOMY

Interview: China’s Vast Market Can Be Key to Trade Negotiations

Published: Apr. 23, 2025 7:15 p.m. GMT+8

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Shang-Jin Wei, a professor of finance and economics at Columbia University who used to be the Asian Development Bank’s chief economist. Photo: Liaoning University

China should leverage its strength as a major importer to boost its position in trade negotiations with other nations, as it tries to mitigate the impact of U.S. tariff hikes, a former chief economist at the Asian Development Bank told Caixin.

China has defended its title as the world’s second-largest importer for 16 straight years, with its share of global imports now standing at 10.5%, according to the latest data from the country’s General Administration of Customs.

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China remains the world’s second-largest importer, holding a 10.5% global import share for 16 consecutive years.
Facing U.S. tariff hikes (up to 145%), China is leveraging its import market to attract new trade partners and increase bargaining power.
China is reaching out to Europe and Asia and promoting import expos to showcase opportunities for foreign exporters and diversify trade relationships.

AI generated, for reference only

Who’s Who

China International Import Expo: The China International Import Expo is an annual event launched by President Xi Jinping in 2018 to promote China’s imports. It serves as a platform to showcase opportunities for foreign exporters and encourage international trade, especially as the country seeks to diversify its trading partners amid heightened tariff tensions with the U.S.

Canton Fair: The Canton Fair is a major international trade expo held twice a year in Guangzhou, southern China. It typically attracts participants from more than 200 countries and regions. The event provides a platform for showcasing products and connecting exporters and importers worldwide, highlighting China's efforts to boost trade relations and promote imports.

AI generated, for reference only