China's imports to increase despite trade frictions

China will actively expand imports this year even in the face of escalating trade protectionism, transforming its super-sized market into a shared global one that injects fresh momentum into the global economy, officials and experts said on Thursday.

"China's ongoing efforts to scale up its imports represent a proactive response to its responsibilities as a major world economy, and a significant contribution to global economic development," He Yadong, a spokesman for the Ministry of Commerce, said at a news conference.

China's core advantages as a massive, multilayered consumer market with immense growth potential have not changed, nor has its attitude of effectively implementing import expansion policies, He said.

China's total imports reached a record-breaking 18 trillion yuan ($2.47 trillion) in 2024, marking a 2.3 percent year-on-year increase and solidifying the country's position as the world's second-largest import market for a 16th consecutive year, data from the ministry showed.

Sang Baichuan, dean of the University of International Business and Economics' Institute of International Economy, said that China's proactive stance toward greater openness stands in sharp contrast to the protectionist tendencies of certain countries, especially in the current global landscape characterized by rampant trade protectionism.

The United States on Tuesday floated a 10 percent tariff on imports of Chinese-made goods as soon as Feb 1.

"Tariff measures are not beneficial for either China or the US, and they also harm the interests of the entire world," said the ministry's spokesman.

China is willing to work with the US on the basis of mutual respect, peaceful coexistence and win-win cooperation to steer the countries' economic and trade relations toward a stable, healthy and sustainable path, He added.

"The core of China-US economic and trade relations is mutual benefit and win-win outcomes," He said. "The ministry has been in regular communication with its US counterparts to this end."

China hopes to strengthen dialogue and consultation with the US, appropriately manage differences, and expand mutually beneficial cooperation, He added.

The White House did not sign any immediate executive orders imposing additional tariffs on China, but it directed relevant agencies to investigate and remedy persistent trade deficits.

With a population of over 1.4 billion and the world's largest and fastest-growing middle-income group, China's market potential is immense, providing ample opportunities for expanding imports, including high-quality US products and services to meet the country's rapidly expanding market demand, Sang said.

"Strengthening trade collaboration between the two countries can help optimize the allocation of resources and drive economic structural adjustments in both countries. This, in turn, can deepen the mutually beneficial nature of the China-US economic relationship," Sang said.

Strengthening trade ties between the world's two largest economies can also bolster global market confidence and maintain the stability of global industrial and supply chains, Sang added.