Group 1 - The core viewpoint highlights that China's business development has withstood various challenges since the "14th Five-Year Plan," achieving significant progress in high-quality development across consumption, foreign trade, foreign investment, and international cooperation [1][2] Group 2 - Consumption has become a main engine and stabilizer, with the total retail sales of consumer goods growing at an average annual rate of 5.5% over the past four years, solidifying China's position as the world's second-largest consumer market [1] - The consumption structure has improved, with initiatives like "old-for-new" driving sales of 2.9 trillion yuan, benefiting approximately 400 million people through subsidies [1] - New consumption trends are emerging, including digital consumption, quality e-commerce, and the integration of artificial intelligence and IP into consumer experiences [1] Group 3 - Foreign trade has demonstrated resilience, maintaining the largest global goods trade scale, with export and import market shares stable at over 14% and 10%, respectively [2] - Service trade has also shown strength, ranking second globally and surpassing 1 trillion USD for the first time last year [2] - Foreign investment quality has improved, with cumulative foreign investment exceeding the target of 700 billion USD, reflecting the ongoing appeal of investing in China [2] Group 4 - The diversity of trade partners has increased, with trade with Belt and Road Initiative countries exceeding 50% in 2024 [2] - The challenges faced have highlighted China's institutional advantages, large market, and complete industrial system, showcasing the economy's potential and resilience [2] - Looking ahead to the "15th Five-Year Plan," the focus will be on strengthening innovation, enhancing international cooperation, and building an open, cooperative, and mutually beneficial international trade landscape [2]

Core Insights - The article highlights the resilience and growth of China's foreign trade despite facing significant pressures, describing the situation as "stormy seas" [1] - China's position as a major trading power is reinforced, with merchandise trade expected to reach $6.16 trillion in 2024, a 32.4% increase from the end of the 13th Five-Year Plan in 2020 [1] - The diversification of trade partners is emphasized, with ASEAN being the largest trading partner for five consecutive years and trade with Belt and Road Initiative countries exceeding 50% in 2024 [3] Group 1 - The scale of China's merchandise trade is projected to be $6.16 trillion in 2024, marking a 32.4% growth from 2020, maintaining its position as the world's largest trading nation for eight consecutive years [1] - Service trade has also seen significant growth, surpassing $1 trillion and ranking second globally, reflecting China's expanding trade scale and influence in the global trade landscape [1] - The ability to maintain stable and resilient supply chains has been crucial, allowing China to effectively respond to global economic uncertainties [1] Group 2 - National-level exhibitions such as the China International Import Expo and the Canton Fair have played a vital role in supporting trade, serving as practical platforms for the three pillars of trade: goods, services, and digital trade [2] - The Chain Expo has seen increased international participation, with 102 companies signing intentions to exhibit, indicating its growing influence as a significant international trade event [2] - The strength of China's trade is not only in its scale but also in its balanced trade structure and innovative capabilities, allowing for effective global resource allocation [2] Group 3 - The resilience of foreign trade has improved significantly, with a more diverse range of trading partners contributing to this strength [3] - The proactive approach of Chinese businesses, such as language learning among shop owners in Yiwu, reflects a deep integration with the global economy [3] - Looking ahead to the 14th Five-Year Plan, there is a commitment to enhancing high-quality trade development, increasing imports, and fostering international cooperation for mutual benefits [3]

Core Viewpoint - The trade war between the US and China is becoming a "new normal" in global trade, with both parties reaching an unprecedented consensus on linking trade policy to national resilience and security goals [1][5]. Impact on Consumers and Businesses - High tariffs typically lead to increased prices for imported goods, which will ultimately be passed on to consumers, eroding their real income, particularly affecting low-income groups [1][3]. - A study from Yale University indicates that a 25% tariff on global imports could raise US consumer prices by 2.1% to 2.6%, with additional costs of $1,300 for low-income households, $2,100 for middle-income households, and $5,400 for high-income households [1]. Long-term Effects on Trade and Investment - The trade war exacerbates international trade friction, raising operational costs for businesses, which may suppress bilateral investment and force companies to restructure supply chains, thereby reducing overall efficiency [3]. - While some domestic industries may benefit in the short term, the greater risk lies in the increased uncertainty in the business environment, which can undermine strategic planning, especially for companies reliant on cross-border collaboration [3]. Policy Implications and Recommendations - To address the challenges posed by rising input costs and weak domestic demand, targeted fiscal policies and structural reforms are essential for maintaining price stability and promoting sustainable economic growth in China [1][8]. - Companies are advised to enhance adaptability by diversifying supply chains, advancing digital transformation, and strengthening risk management, while also keeping a close watch on regulatory changes and exploring emerging market opportunities [6][7]. Future Trade Landscape - The current trade policies are evolving beyond economic considerations, becoming strategic tools for national security, technological advantage, and geopolitical competition [4]. - The future of international trade is expected to be characterized by diversification and complexity, with multilateralism being replaced by a network of regional and bilateral mechanisms, emphasizing technology, security, and sustainability as core elements of the new trade order [9].