China's exports—AI tech lifts GDP tone
China entered 2026 on firmer footing as a surge in exports — especially AI‑related technology — helped offset global demand softness, according to analysts tracking early 2026 data reported. That momentum cushions wider risks from a weak property sector and demographic headwinds, but policymakers remain focused on supporting strategic industries and stabilizing domestic demand reported.
China’s exports jumped 21.8% year‑on‑year in the combined January‑February 2026 period, totaling roughly $656.6 billion. (tradingeconomics.com) Customs data showed total goods trade reached 7.73 trillion yuan in Jan‑Feb, with exports of 4.62 trillion yuan and imports of 3.11 trillion yuan. (english.www.gov.cn) The January‑February trade surplus widened to a record $213.62 billion as exports outpaced forecasts, while trade with the United States fell 16.9% to 609.71 billion yuan and trade with the EU and ASEAN rose 19.9% and 20.3% respectively. (cnbc.com) China’s integrated circuit exports hit 304.67 billion yuan in Jan‑Feb, a 68.9% year‑on‑year increase driven in part by demand for mature‑node chips tied to AI infrastructure. (trendforce.com) Semiconductor shipments more broadly were strong: chip exports reached about $43.3 billion in the same two‑month window, a rise of roughly 73% that outpaced overall export growth. (scmp.com) Domestic activity also showed momentum—industrial output rose 6.3% year‑on‑year in Jan‑Feb and retail sales climbed 2.8%—while fixed‑asset investment expanded 1.8%, reversing last year’s contraction. (money.usnews.com) Beijing has signalled continued state backing for high‑tech sectors, with the Ministry of Industry and Information Technology announcing initiatives to strengthen emerging and future industries through 2026–2030. (english.www.gov.cn) Global banks flag bigger structural effects from AI: Goldman Sachs estimates China’s AI‑related capital expenditure could rise sharply through 2027 and approach about 1% of GDP by the decade’s end, explaining the outsized trade impact from AI‑ecosystem goods. (goldmansachs.com)
