September 2026 Foreign Trade Information Weekly: Imports and exports increased by 17.6% in August, and exports of mechanical and electrical products hit a record high

Foreign trade data for January and August was released: imports and exports increased by 17.6% in the first eight months

General Administration of Customs of ChinaThe latest data released on September 8 showed that in the first eight months of 2026, the total import and export value of my country's goods trade was 34.78 trillion yuan, a year-on-year increase of 17.6%. Among them, exports were 20.17 trillion yuan, an increase of 14.6%; imports were 14.61 trillion yuan, an increase of 22%.

Month of AugustThe total import and export value of my country's goods trade was 4.65 trillion yuan, a year-on-year increase of 19.8%, and remained above 4 trillion yuan for six consecutive months. Among them, exports were 2.73 trillion yuan, an increase of 18.6%; imports were 1.92 trillion yuan, an increase of 21.7%. Imports, exports, exports, and imports have all achieved double-digit growth for four consecutive months, and the growth rate of imports has exceeded exports for six consecutive months.

In dollar terms, exports in August were US$401.44 billion, a year-on-year increase of 25.0%; imports were US$282.36 billion, a year-on-year increase of 28.2%; and the trade surplus was US$119.09 billion, an increase of US$18.079 billion over the same period last year.

Overview of core data

2. Exports of mechanical and electrical products reached 1.78 trillion yuan, a record high

Data from China Chamber of Commerce for Import and Export of Mechanical and Electrical Products shows that in August, my country's exports of mechanical and electrical products increased by 26.2% year-on-year to 1,782.02 billion yuan, a record monthly high. As of August, the export scale of mechanical and electrical products has exceeded 1.7 trillion yuan for three consecutive months, and has maintained double-digit growth for nine consecutive months.

Performance of key export commodities:

• mechanical and electrical products: Exports in August were 1.78 trillion yuan, an increase of 26.2%, a record high
• auto parts: Growth of 22.4%, the new energy vehicle industry chain continues to exert strength
• high-tech products: Growth of 18.5%, strong exports of AI-related products
• plastic products: Growth of 12.3%, stable overseas demand
• toy: Growth of 15.2%, boosted by stocking during the Christmas season
• steel: Down 3.5%, affected by fluctuations in international steel prices

Lu Daliang, director of the Statistical Analysis Department of General Administration of Customs of China, said that my country's trade in goods grew steadily in August. In terms of scale, the total import and export value has remained above 4 trillion yuan for six consecutive months, and the monthly growth rate has remained at two for four consecutive months. Digital growth shows strong development resilience.

3. The Pinglu Canal is officially opened to traffic, and a new channel for goods from southwest China to sea

On September 16, the total investment was approximately 72.7 billion yuan, which took four years to build.Pinglu Canal is officially opened to traffic。This is the first canal to connect the Yangtze River and Dahai to be constructed at the national level since the founding of New China. It has a total length of 134.2 kilometers and can pass 5000-ton ships, directly opening up the "last link" between the Xijiang River and the Beibu Gulf.

Strategic significance of the Pinglu Canal:

• Shorten the range: Goods from southwest China no longer need to bypass Guangzhou to go to sea, shortening the voyage by about 560 kilometers
• reduce costs: Transportation costs per ton of goods can be reduced by about 30-50 yuan
• coverage area: Sichuan, Chongqing, Guizhou, Yunnan, Guangxi and other southwestern provinces directly benefit
• Increase in transportation capacity: 5000-ton ships can be passed in the initial stage, and 10000-ton ships are planned in the long run

For manufacturing plants in the southwest region, the opening of the Pinglu Canal means that sea logistics costs have been significantly reduced and delivery cycles have been shortened, which is a major benefit for expanding overseas markets.

4. RMB exchange rate: 1 US dollar to RMB 6.7628 yuan

Data from China Foreign Exchange Trading Center shows that the central parity of the RMB exchange rate in the inter-bank foreign exchange market on September 16, 2026 is:1 US dollar to RMB 6.7628 yuan, increased by 42 basis points.

Pan Gongsheng, Governor of the People's Bank of China, made it clear at the G20 finance ministers and central bank governors meeting:"China does not need to and has no intention of gaining a competitive trade advantage through exchange rate devaluation. "

Analysis of exchange rate trend:

• Since August, the international financial market has continued to fluctuate, and the bond and foreign exchange markets of some economies have increased volatility.
• my country's foreign exchange market is operating steadily and cross-border funds maintain a net inflow
• In August, the cross-border revenue and expenditure of the non-banking sector totaled US$1.5 trillion, and the net cross-border capital inflow was US$62.4 billion
• The net capital inflow under trade in goods is relatively high, supporting the stability of the RMB exchange rate

Advice for foreign trade factories: Currently, exchange rate fluctuations are increasing. It is recommended that enterprises establish the concept of "exchange rate risk neutrality" and rationally use hedging tools such as forward settlement and sales of foreign exchange, options, etc. to lock in exchange rate costs and prevent exchange rate fluctuations from eroding profits.

5. International trade trends: US-Canada trade frictions escalate

The latest news on September 17 was that U.S. President Trump signed an announcement to exclude Canadian products from the U.S. government procurement plan. Previously, trade negotiations between the United States and Canada broke down in late August. The United States announced a 50% tariff on Canadian imports worth approximately US$20 billion. Canada also implemented an equivalent counter-tariff policy against the United States on September 8.

Impact on China's foreign trade:

• Trade frictions between the United States and Canada may lead to the transfer of some orders to China suppliers
• Restructuring North American supply chains allows China companies to take the opportunity to expand the Canadian market
• Pay attention to subsequent changes in U.S. trade policies and diversify the market in advance

6. Performance of key markets

7. 5 suggestions for foreign trade factories

1. Seize the opportunity of high growth in the export of mechanical and electrical products

Mechanical and electrical products grew in double digits for nine consecutive months, reaching a record high in August. Factories engaged in machinery, electronics, auto parts and other related products should increase their efforts to expand overseas markets, especially in new energy and AI-related industrial chains.

2. Pay attention to the new logistics channel in Southwest China

After the Pinglu Canal was opened to traffic, the cost of going to sea for factories in Southwest China was reduced. Companies located in Sichuan, Chongqing, Guizhou, and Yunnan can re-evaluate logistics solutions and choose Beibu Gulf Port to go to sea.

3. Manage exchange rate risks well

The two-way fluctuations in the RMB exchange rate have increased. It is recommended to use forward settlement and sales to lock in the exchange rate and not gamble on the direction of the exchange rate. Establish the concept of "exchange rate risk neutrality" and focus on main business operations.

4. Diversified market layout

Emerging markets such as ASEAN, Russia, and India are growing strongly, and their growth rates far exceed those of traditional European and American markets. It is recommended that factories not rely too much on a single market and actively expand countries along the Belt and Road Initiative.

5. Use AI tools to improve customer acquisition efficiency

Against the background of foreign trade growth, the Dual-Track Customer Acquisition tool can be used to accurately locate overseas buyers and increase inquiry conversion rates. The Qihang AI "Xunpanbao (Inquiry Assurance)" system helps factories accurately obtain overseas customer resources through AI big data analysis.

Data sources: General Administration of Customs of China, China Chamber of Commerce for Import and Export of Mechanical and Electrical Products, State Administration of Foreign Exchange, China Foreign Exchange Trading Center. This article was compiled and published by Qihang AI. Please indicate the source for reprinting.