Cui Dongshu: By 2026, China's automotive industry will lead the country in high-quality export growth.

Cheng Lian Branch Cui Dongshu wrote recently that the General Administration of Customs recently released the import and export data for January-February 2026. China's exports in January-February 2026 reached 656.6 billion US dollars, an increase of 22% compared to the same period last year. Particularly in February, it reached the highest level in February of previous years at 299.9 billion US dollars, showing a strong performance of a 39% increase in China's export trade in the first two months. China's 2025 commodity exports are showing a stable and strong growth trend. In 2026, China's exports to Hong Kong, Vietnam, India, Thailand, and other countries made significant contributions. However, Taiwan, South Korea, Brazil, Switzerland, and Chile have a large trade deficit. The imbalance in trade will be better controlled when China's automobile industry enters a trade balance. High-quality development in industries such as motorcycles also indicates huge export potential for automobiles. Looking at the average price of exported products: against the backdrop of the appreciation of the RMB, the overall export US dollar price in 2026 is at a low position, causing significant cost pressure on enterprises and the importance of reversing internal competition. Electric vehicles shine among the new three categories. In February 2026, China exported 740,000 vehicles, an increase of 76% year-on-year, and 1.54 million vehicles in January-February, a 59% increase. After the new policy on the export of used cars, automobile exports still exceeded expectations, with a good average price performance, superior to lithium batteries and solar panels.