CITIC Construction Investment: It is expected that exports will continue to be strong in 2026.

The CITIC Securities research report stated that it is expected that exports will continue to be strong in 2026, with a year-on-year growth rate of 5%. There are two reasons for this. First, the external trade environment is significantly improved in 2026, with tariffs settled and Europe and the United States initiating a new round of fiscal expansion dividends, which may lead to a marginal increase in global demand. Second, as China deepens cooperation with non-American countries, Chinese products continue to increase their import share in non-American regions, and this trend is expected to continue in 2026. The latest data shows that external demand remains strong and exports are expected to have a good start in 2026.