Shanghai, China – China has unveiled a new initiative aimed at increasing imports and positioning the country as a global market powerhouse, even as its trade surplus continues to grow amid tensions with the United States.

Despite being a major global exporter, China’s role in global demand has been relatively limited, with imports growing slowly. Economists say this imbalance has contributed to trade frictions abroad and deflationary pressures domestically.

“Big Market for All: Export to China” Program

China’s Commerce Minister Wang Wentao announced the “Big Market for All: Export to China” program, which will host 10 major events annually featuring five to six countries each. The initiative is designed to make China a top export destination and foster win-win international trade cooperation.

Premier Li Qiang attended the announcement in Shanghai on the eve of the China International Import Expo (CIIE), which runs from November 5-10. Launched in 2018 by President Xi Jinping, CIIE aims to showcase China’s commitment to free trade and address criticism over the country’s growing trade surplus.

Trade Surplus and Global Impact

The program comes amid rising scrutiny of China’s trade practices. The European Chamber of Commerce previously criticized CIIE as more of a “political showcase” than a genuine business platform. China’s trade surplus is projected to surpass $1 trillion in 2025, with exporters offsetting falling U.S. sales by increasing shipments to other regions, sometimes at a loss to gain market share.

Recent trade data highlights these shifts: exports to the U.S. fell 27% year-on-year in September, while shipments to the European Union (+14%), Southeast Asia (+15.6%), and Africa (+56.4%) saw strong growth.

China’s new import-focused initiatives signal a strategic push to balance its trade relationships, enhance global economic ties, and strengthen its position as a leading market for international exporters.