进、出口增速上行，中欧双边贸易修复进行中

Trade Overview - In December 2025, China's total import and export volume reached $601.42 billion, a year-on-year increase of 6.2%[8] - Exports totaled $357.78 billion, growing by 6.6% year-on-year, while imports amounted to $243.64 billion, increasing by 5.7%[8] - The trade surplus was $114.14 billion, indicating a positive balance in trade[8] Export Dynamics - The export growth rate increased by 0.7 percentage points from the previous month, despite a high base from the previous year[12] - Key export products such as automobiles, integrated circuits, and electromechanical products showed significant growth, with integrated circuits growing by 47.7% year-on-year[16] - Exports to the EU and ASEAN maintained high growth rates, with December exports to the EU growing by 11.6%[14] Import Trends - Imports rose by 3.8 percentage points from the previous month, driven by increased imports from the EU and countries involved in the Belt and Road Initiative[17] - The significant rise in crude oil imports was noted, while demand for traditional bulk commodities like steel decreased due to domestic structural adjustments[17] - Imports from the EU grew by 17.8%, while imports from the US decreased by 28.7%[17] Future Outlook - The external environment is expected to remain complex, with trade growth potentially continuing to fluctuate upward in 2026[22] - The recovery of trade with the EU is anticipated to accelerate, with a projected 8.4% increase in exports to the EU in 2026[22] - Geopolitical risks and domestic economic adjustments may impact import growth, particularly in the real estate sector affecting steel imports[23]