CX Briefing: Exports of ‘New Three’ Products Surge

A rundown of the news making headlines in and around China:

“New Three” export growth: Chinese exports of “new three” products — lithium batteries, solar cells and electric vehicles (EVs) — continued to increase in May, according to customs data published Wednesday. Solar cells experienced the strongest growth, with more than 1 billion shipped, up 74% from the same month of 2024. Meanwhile, 390 million lithium batteries and 332,000 passenger EVs were exported, up 23% and 47% year-on-year, respectively. Pure electric passenger cars have typically dominated the EV segment, accounting for around 60% to 70% of exports — 188,000 pure passenger EVs were shipped in May, 18% increase on the year. However, overall exports of consumer goods remained sluggish last month, with exports of home appliances down 6% and labor-intensive products such as clothing and toys showing mixed performance. Export growth may gain further in June following the cooling of U.S. tariffs, Haitong International Securities Group Ltd. analysts predicted.