AI Data Insight
In the first quarter of 2026, the contribution rate of China's net exports of goods and services to GDP fell sharply to 15.3%, halved from the previous value of 32.7%. Although overall GDP grew by 5.0% year-on-year, outperforming market expectations, the soaring import growth rate and narrowing trade surplus have substantially weakened the driving force of foreign trade. If European and American tariff pressures escalate in the future, China will need to rely more on domestic demand policies to support economic growth.