在终端产品领域，我国智能搬运机器人和焊接机器人广泛应用于海外基础设施、交通等大型项目建设领 域，出口增速均超过60%。 在日常生活中，2025年，我国智能手表和智能玩具已畅销至170多个国家和地区，进一步推动了全球市 场对中国智能产品的需求。 央视网消息（新闻联播）：记者从海关总署了解到，2025年，我国人工智能相关产品贸易趋势与全球基 本同步，呈现出蓬勃发展的态势。 在中间品领域，我国企业积极参与全球人工智能产业合作分工，出口应用于高端显卡领域的光收发模块 增长了近六成。我国有效对接全球数据中心强劲的电力需求，大型变压器、储能电池等电工器材出口增 长了18.8%。同时，我国智能驾驶技术发展迅速，带动激光雷达进口增长超过二成；人工智能算力需求 旺盛，带动电脑零部件进口增长了20%。 ...

1月26日，德科立涨1.58%，成交额9.23亿元。两融数据显示，当日德科立获融资买入额1.23亿元，融资 偿还1.18亿元，融资净买入561.06万元。截至1月26日，德科立融资融券余额合计15.60亿元。 融资方面，德科立当日融资买入1.23亿元。当前融资余额15.56亿元，占流通市值的7.11%，融资余额超 过近一年90%分位水平，处于高位。 融券方面，德科立1月26日融券偿还0.00股，融券卖出1100.00股，按当日收盘价计算，卖出金额15.22万 元；融券余量2.44万股，融券余额337.28万元，超过近一年90%分位水平，处于高位。 责任编辑：小浪快报 截至9月30日，德科立股东户数1.73万，较上期增加81.68%；人均流通股9163股，较上期减少2.48%。 2025年1月-9月，德科立实现营业收入6.52亿元，同比增长8.59%；归母净利润4010.70万元，同比减少 47.43%。 分红方面，德科立A股上市后累计派现1.58亿元。 机构持仓方面，截止2025年9月30日，德科立十大流通股东中，中航机遇领航混合发起A（018956）位 居第三大流通股东，持股564.45万股，相比上期增加4 ...

Group 1 - The core point of the news is the performance of Dekoli, which saw a decline of 5.01% on January 20, with a stock price of 134.90 yuan per share and a total market capitalization of 21.353 billion yuan [1] - Dekoli is based in Wuxi, Jiangsu Province, and specializes in the research, production, and sales of optical transceiver modules, optical amplifiers, and optical transmission subsystems, primarily used in key national development areas such as communication trunk transmission and 5G [1] - The company's main business revenue composition is as follows: transmission-related products account for 75.33%, access and data-related products for 23.54%, and others for 1.13% [1] Group 2 - From the perspective of major fund holdings, one fund under ICBC Credit Suisse holds Dekoli shares, specifically the Science and Technology Innovation 200 ETF, which held 8,107 shares, representing 1.14% of the fund's net value [2] - The Science and Technology Innovation 200 ETF has a current scale of 86.0961 million yuan and has achieved a return of 16.28% this year, ranking 103 out of 5,542 in its category [2] - The fund manager, He Shun, has been in position for 2 years and 94 days, with the fund's total asset scale at 8.558 billion yuan, achieving a best return of 79.5% and a worst return of 7.61% during his tenure [3]

Core Viewpoint - In 2025, China's foreign trade achieved a record high of 45.47 trillion yuan, maintaining its position as the world's largest goods trading nation, with exports reaching 26.99 trillion yuan, a year-on-year increase of 6.1% [1][2] Trade Performance - China's imports in 2025 amounted to 18.48 trillion yuan, showing a modest growth of 0.5% year-on-year [1] - The total foreign trade growth rate for 2025 was 3.8%, marking the ninth consecutive year of growth since China's accession to the WTO [1] - December 2025 saw a monthly trade volume of 4.26 trillion yuan, a 4.9% increase year-on-year, setting a new record for monthly trade volume [1] Export Growth - High-tech product exports grew by 13.2%, contributing 2.4 percentage points to overall export growth [3] - Specific sectors such as specialized equipment, high-end machine tools, and industrial robots saw export increases of 20.6%, 21.5%, and 48.7% respectively [3] - China became a net exporter of industrial robots in 2025, with exports surpassing imports [3] Market Diversification - Exports to countries involved in the Belt and Road Initiative increased by 11.2%, contributing 5.4 percentage points to overall export growth [4] - ASEAN has remained China's largest export market for three consecutive years, with emerging markets in Latin America, the Middle East, Central Asia, and Africa showing faster growth rates than the overall average [4] Innovation in Exports - The export of green energy products such as lithium batteries and wind turbines grew by 26.2% and 48.7% respectively [3] - The export of electric motorcycles and bicycles increased by 18.1%, while railway electric locomotives saw a growth of 27.1% [3] Artificial Intelligence Trade - AI-related product trade is experiencing robust growth, contributing significantly to global trade increments [5] - In 2025, China's AI-related product trade trends aligned with global patterns, indicating a thriving market [5] Business Sector Performance - Private enterprises accounted for 57.3% of China's total foreign trade value, with high-tech product exports from these firms growing by 14.8% [7] - Foreign enterprises maintained a strong presence, with imports and exports reaching 13.27 trillion yuan, a 3.7% increase [7] - State-owned enterprises played a crucial role in energy supply and industrial chain resilience, with imports being 2.1 times higher than exports [8]

Core Insights - China's foreign trade achieved a record high of 45.47 trillion yuan in 2025, with a year-on-year growth of 3.8%, maintaining its position as the world's largest goods trader [1][6] - The export of high-tech products increased by 13.2%, contributing 2.4 percentage points to overall export growth [2] - The diversification of trade partners is evident, with trade relations established with 249 countries and regions, and a decrease in concentration among the top ten trading partners [4][5] Trade Performance - In 2025, exports reached 26.99 trillion yuan, growing by 6.1%, while imports totaled 18.48 trillion yuan, with a modest growth of 0.5% [1] - December 2025 saw a record monthly trade volume of 4.26 trillion yuan, marking a 4.9% year-on-year increase [1] - The import market remains robust, with China expected to be the world's second-largest import market for 17 consecutive years [5] High-Tech and Green Products - High-tech product exports, including specialized equipment and industrial robots, saw significant growth, with industrial robot exports increasing by 48.7% [2] - Green energy products, such as lithium batteries and wind turbines, also experienced substantial export growth, with increases of 26.2% and 48.7% respectively [2] Market Diversification - Trade with emerging markets is expanding, with notable growth in exports to ASEAN, Central Asia, and Africa [3][4] - The trade relationship with Europe remains strong, with over 50% of cosmetics and nearly 60% of automobiles imported from Europe, while exports of pharmaceuticals and industrial robots to Europe grew by over 20% [5] Future Outlook - The external environment for trade in 2026 is expected to be challenging, with global trade growth projected to slow down significantly [6] - Despite these challenges, China's institutional, market, and industrial advantages are expected to enhance its resilience in foreign trade [6]

Core Insights - In 2025, China's total goods trade import and export value reached 45.47 trillion yuan, a year-on-year increase of 3.8%, marking a historical high and maintaining growth for nine consecutive years [2] - Exports amounted to 26.99 trillion yuan, up 6.1%, while imports reached 18.48 trillion yuan, increasing by 0.5% [2] - Despite global economic challenges, China's foreign trade demonstrated resilience and maintained its position as the world's largest goods trader [2] Trade Performance - High-tech product exports reached 5.25 trillion yuan, growing by 13.2%, contributing 2.4 percentage points to overall export growth [3] - Exports of specialized equipment, high-end machine tools, and industrial robots saw significant increases of 20.6%, 21.5%, and 48.7% respectively [3] - China became a net exporter of industrial robots, with exports surpassing imports [3] Green and High-Tech Products - Exports of lithium batteries and wind turbine generators grew by 26.2% and 48.7% respectively, reflecting a strong performance in green technology [4] - Electric motorcycles and bicycles saw an 18.1% increase in exports, while electric locomotives grew by 27.1% [4] - The export of industrial gas purification devices increased by 17.3%, showcasing China's contribution to global green transformation [4] Import Trends - Imports reached a record high of 18.48 trillion yuan, maintaining China's position as the world's second-largest import market for 17 consecutive years [4] - From June onwards, imports experienced seven consecutive months of year-on-year growth, with December's growth accelerating to 4.4% [4] Diversification of Trade Partners - China's trade diversification has become more pronounced, effectively mitigating external shocks [5] - Trade with over 60% of countries and regions across five continents saw growth, reducing reliance on a few major trading partners [5] - Trade with Belt and Road Initiative countries reached 23.6 trillion yuan, growing by 6.3%, which is higher than the overall foreign trade growth rate [5] Business Dynamics - Private enterprises played a crucial role in foreign trade, with exports and imports totaling 26.04 trillion yuan, a 7.1% increase [7] - Over 90% of surveyed multinational companies expressed intentions to continue investing in China, indicating strong foreign confidence in the market [7] - The establishment of the Hainan Free Trade Port has led to rapid growth in local foreign trade, with a 19.6% increase in trade value [7] Future Outlook - Experts predict that in 2026, China's foreign trade may exhibit a "stable quantity, improved quality" trend, driven by high-end equipment, green energy, and AI-related products [8] - The global trade environment is expected to improve, with increased demand anticipated due to monetary and fiscal easing [9] - China's competitive advantages across the entire industrial chain are expected to become more pronounced, particularly in markets like ASEAN and the EU [9]

Group 1 - China's total goods trade import and export value reached 45.47 trillion yuan in 2025, marking a historical high with a year-on-year growth rate of 3.8%, achieving the longest continuous growth since joining the WTO [1] - The export value for China in 2025 was 26.99 trillion yuan, with a growth of 6.1%. High-tech product exports increased by 13.2%, contributing 2.4 percentage points to overall export growth [1] - Exports of specialized equipment, high-end machine tools, and industrial robots grew by 20.6%, 21.5%, and 48.7% respectively, indicating strong performance in high-tech sectors [1] Group 2 - The global AI boom is providing growth support for international trade, with AI-related product trade increasing by approximately 20% in the first half of last year, contributing over 40% to global trade growth [2] - China's imports of lidar technology grew by over 20%, and exports of optical transceiver modules for high-end graphics cards increased by nearly 60%, showcasing the rapid development of AI-related products [2] - In 2025, China engaged in trade with over 240 countries and regions, with trade volume increasing with more than 190 of them, indicating a more balanced trade relationship [2] Group 3 - Trade with countries involved in the Belt and Road Initiative reached 23.6 trillion yuan, growing by 6.3% and accounting for 51.9% of total trade [3] - Trade with ASEAN, Latin America, and Africa grew by 8%, 6.5%, and 18.4% respectively, all surpassing the overall growth rate, highlighting the importance of these regions [3] - The U.S. remains a significant trade partner for China, being the third-largest export destination and third-largest source of imports, emphasizing the mutual benefits of stable Sino-U.S. trade relations [3]

Core Viewpoint - In 2025, China's foreign trade achieved a total import and export value of 45.47 trillion yuan, marking a growth of 3.8%, with exports at 26.99 trillion yuan (up 6.1%) and imports at 18.48 trillion yuan (up 0.5%) [1] Group 1: Trade Performance - The scale of foreign trade reached a new high, with a significant increase in the share of private enterprises in total foreign trade value, rising by 1.8 percentage points to 57.3% [1] - Foreign-funded enterprises recorded an import and export value of 13.27 trillion yuan, growing by 3.7%, maintaining growth for seven consecutive quarters [1] - State-owned enterprises had an import and export value of 6.06 trillion yuan, accounting for 13.3% of total foreign trade, with an average import and export value of 9.4 billion yuan per enterprise, the highest among all types of enterprises [1] Group 2: Regional Contributions - Various regions in China leveraged their geographical advantages and resource endowments to contribute to steady growth in imports and exports, with notable performances from foreign trade provinces, border areas, and key regions [2] Group 3: Growth Drivers - The growth in exports was driven by reasonable volume growth and effective quality improvement, particularly through innovation, green initiatives, and cooperation [2] - High-tech product exports contributed 2.4 percentage points to overall export growth, with specialized equipment, high-end machine tools, and industrial robots seeing export increases of 20.6%, 21.5%, and 48.7% respectively [2] - In the green energy sector, exports of lithium batteries and wind turbine generators grew by 26.2% and 48.7%, respectively, while electric motorcycles and railway electric locomotives saw growth rates of 18.1% and 27.1% [2] Group 4: Market Diversification - China's export markets became more diversified, with exports to countries involved in the Belt and Road Initiative increasing by 11.2%, contributing 5.4 percentage points to overall export growth [3] - ASEAN has remained China's largest export market for three consecutive years, with emerging markets in Latin America, the Middle East, Central Asia, and Africa showing faster growth rates than the overall average [3] Group 5: Technological Advancements - The export of artificial intelligence-related products showed significant growth, with exports of optical transceiver modules for high-end graphics cards increasing by nearly 60% [3] - Exports of large transformers and energy storage batteries grew by 18.8%, while both handling robots and welding robots saw export growth rates exceeding 60% [3] - Smartwatches and smart toys from China were sold in over 170 countries and regions, indicating strong global demand [3] Group 6: Hainan Free Trade Port - The Hainan Free Trade Port officially started its full island closure on December 18, 2025, with policies effectively implemented, leading to smooth and efficient operations [4] - The number of people participating in duty-free shopping in Hainan reached 585,000, with total spending of 3.89 billion yuan, reflecting year-on-year increases of 32.4% and 49.6%, respectively [4] - The categories of duty-free goods expanded from 45 to 47, including new electronic products, enhancing the attractiveness of the shopping experience [4]

Core Insights - China's total import and export value for 2025 reached 45.47 trillion yuan, a year-on-year increase of 3.8%, marking a historical high and maintaining its position as the world's largest goods trading nation [1] - The import value for 2025 was 18.48 trillion yuan, also a historical high, making China the world's second-largest import market for 17 consecutive years [3] Group 1: Import Trends - Monthly imports have shown continuous growth since the second half of 2025, with December's growth accelerating to 4.4% [4] - The overall import growth was supported by a stable economic recovery, increased production, and expanding consumer demand [4] - Despite a decline in international prices for major commodities, which reduced overall import growth by 1.4 percentage points, imports still managed to grow [4] Group 2: Import Expansion Efforts - China has actively expanded imports through initiatives like the "Export to China" series and the successful hosting of the eighth China International Import Expo, which saw a record number of participating companies and intention to transact over 80 billion USD [4] - The country imported nearly 1.5 trillion yuan worth of agricultural products, with an increase in registered foreign agricultural enterprises [4] - Imports of bulk commodities reached nearly 3 billion tons, up by 1.1%, and imports of electromechanical products exceeded 7.4 trillion yuan, growing by 5.7% [4] Group 3: Trade Partnerships - Imports from over 130 countries and regions increased, with notable growth from Asia, Latin America, and Africa [5] - China implemented zero tariffs on 100% of product categories for the least developed countries with which it has diplomatic relations, resulting in a 9% increase in imports from these nations [5] Group 4: Artificial Intelligence Trade - The World Trade Organization reported that artificial intelligence has become a new driver of global trade growth, with AI-related product trade increasing by approximately 20% in the first half of the previous year [7] - China's AI-related product trade is expected to grow in line with global trends, with significant increases in imports of laser radar and computer components [7][8] - Chinese companies are actively participating in global AI industry cooperation, with exports of high-end graphics card modules increasing by nearly 60% [8] Group 5: Future Outlook - The Chinese government emphasizes the importance of expanding imports and enhancing trade partnerships, with a commitment to further open its market [6] - The customs authority plans to innovate regulatory systems to facilitate import growth and improve customs services [6] - The ongoing technological innovation, particularly in AI, is expected to enhance the "intelligent" aspect of foreign trade, contributing to China's modernization efforts [9]

Core Insights - The article discusses the performance of China's foreign trade in 2025, focusing on the "new, green, and intelligent" aspects of exports and imports. Group 1: High-tech Product Exports - China's high-tech product exports increased by 13.2% year-on-year, contributing 2.4 percentage points to overall export growth [6] - Exports of specialized equipment, high-end machine tools, and industrial robots grew by 20.6%, 21.5%, and 48.7% respectively [6] - In 2025, China became a net exporter of industrial robots, with exports surpassing imports [6] Group 2: Green Energy Products - Exports of the "new three types" of products rose by 27.1%, with lithium batteries and wind turbine generators increasing by 26.2% and 48.7% respectively [8] - In the green transportation sector, exports of electric motorcycles and bicycles grew by 18.1%, while railway electric locomotives saw a 27.1% increase [11] Group 3: Intermediate Products and AI Technology - The demand for artificial intelligence technology has expanded, leading to a significant increase in imports of related products, such as laser radar, which grew by over 20% [12] - Imports of computer components surged by 20% due to strong demand for AI computing power [12] - Exports of electrical equipment, including large transformers and energy storage batteries, increased by 18.8% [13] Group 4: Terminal Products - China's intelligent robots are not only capable of performing tasks like dancing and marathon running but are also recognized for their efficiency in production [15] - The export of handling robots and welding robots has been significant in overseas infrastructure and transportation projects [15]