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German exports to China fall over 12% in H1 as industrial upgrading reshapes trade structure; cooperation remains vital: expert_我的网站
一 |
German exports to China fell year-on-year in the first half of 2026, pointing to a deeper restructuring of bilateral trade as China moves up the manufacturing value chain, Chinese analysts said. They also cautioned that the decline should not be read as diminishing China's importance to German businesses, given the deep economic ties and the continued benefits of cooperation for both sides.
Germany's first-half exports to China fell by more than 12 percent year-on-year to just under 37 billion euros ($43 billion), while imports from China rose 8.9 percent to 91.8 billion euros, according to data from Germany Trade & Invest (GTAI) cited by Reuters on Sunday. Germany's trade deficit with China widened to about 55 billion euros from 40 billion euros a year earlier, the report said.
Reuters cited Corinne Abele, GTAI's East Asia expert, as pointing to weaker domestic demand and the fact that German companies are increasingly producing inside China.
Commerzbank economist Vincent Stamer said that China's diminishing reliance on Germany showed that the country is becoming more independent of Western powers and catching up technologically, according to Reuters.
China has continued to strengthen its capabilities in sectors including new-energy vehicles, artificial intelligence and advanced manufacturing, enabling more products and technologies that previously depended on imports to be supplied domestically, Zhao Junjie, a senior research fellow at the Institute of European Studies at the Chinese Academy of Social Sciences, told the Global Times on Sunday.
"This means the structure of China-Germany trade is changing," Zhao said, noting that as Chinese industries move up the value chain, China's reliance on some German industrial products is declining, while Chinese companies are becoming more competitive in sectors where German manufacturers traditionally enjoyed strong advantages.
In a position paper released on July 28, China's Ministry of Commerce (MOFCOM) said that the rapid growth of China's modern industries is driven by innovation, with nationwide research and development (R&D) spending growing by an average of 10 percent annually during the 14th Five-Year Plan (2021-25) period.
The changing trade trend is also linked to Germany's own industrial competitiveness and policy environment, Zhao said, noting that high energy costs, demographic pressures and slower investment in some emerging technologies have weighed on the country's industrial upgrading and innovation.
At the same time, political and security considerations have increasingly shaped Germany's economic policy toward China, as Berlin has moved closer to the broader US and EU "de-risking" agenda, Zhao said.
"Such policies can be a double-edged sword, raising costs for German companies in China and disrupting bilateral economic cooperation while seeking to pressure Chinese industries."
However, it is notable that overall China-Germany trade remained substantial. Total bilateral trade exceeded 128 billion euros in the first half, about 3 billion euros more than Germany's trade with the US, according to Reuters.
China overtook the US as Germany's top trading partner in 2025 after US President Donald Trump launched sweeping protectionist tariffs that weighed on German exports to the US.
Falling German exports should not be seen as diminishing China's importance to German businesses, especially as bilateral ties are increasingly expanding beyond trade into investment, local production and R&D, analysts said.
German companies invested more than 7 billion euros in China in the first 11 months of 2025, up 55.5 percent from 4.5 billion euros in 2024 and 2023 and hitting a four-year high. German companies are bulking up their China business and adopting "China for China" production strategies partly to reduce exposure to possible tariffs and export restrictions, according to Reuters.
Major German companies are also deepening their presence in China. BASF's Verbund site in Zhanjiang, South China's Guangdong Province went fully operational in March with an investment of 8.7 billion euros, the largest single investment project wholly owned by a German enterprise in China, the Xinhua News Agency reported.
"China and Germany have developed deeply intertwined economic interests over many years," Zhao said. Rather than treating stronger Chinese industries as a reason to reduce cooperation, Germany should adapt to a relationship in which competition increasingly coexists with investment, innovation and industrial collaboration, he noted.
Recent high-level exchanges have also underscored the importance both sides attach to economic ties. During a meeting with German Economy Minister Katherina Reiche in May, Chinese Vice Premier He Lifeng said that China and Germany are important economic and trade partners with a solid foundation, enormous potential and strong complementarity, calling on both sides to consolidate cooperation in traditional sectors and tap opportunities in emerging fields, according to the Xinhua News Agency.
Reiche said that the German business community remained confident about China's economic prospects and innovation capabilities and would continue to deepen cooperation, Xinhua reported.
The two sides have also moved to strengthen institutional mechanisms. China and Germany agreed to restart the China-Germany Joint Economic Committee and establish two new working groups on trade and investment and industrial cooperation, according to the MOFCOM.
。 中新社北京8月21日电 记者21日从中国电力企业联合会获悉，7月全国全社会用电量规模再创历史新高。有关电力专家指出，第三产业用电量增速较快，高技术及装备制造业用电量表现突出，新动能用电保持高速增长，新质生产力对用电的支撑作用持续强化。 7月，全国全社会用电量1.04万亿千瓦时，月度用电量规模再次突破万亿千瓦时，同比增长1.7%；7月用电规模比上年同期多174.5亿千瓦时，再创月度用电量历史新高。
二 | 中国电力企业联合会统计与数智部主任助理吴立强表示，7月，第三产业用电量同比增长4.8%，增速为各产业中最快。同期，高技术及装备制造业用电量表现突出。
三 | 高技术及装备制造业用电量同比增长8.9%，较上年同期提高1.7个百分点，对第二产业用电增量贡献率达55.8%。其中，电气机械和器材制造业与计算机/通信和其他电子设备制造业两个行业，对7月全国全社会用电量增量贡献率合计达33%。 7月，消费品制造业用电量同比增长4.3%，占全社会用电增量占比14.4%，是制造业中除高技术装备外的第二大正向拉动板块。 吴立强说，在数字经济与交通电气化的双轮驱动下，7月，全国充换电服务业用电量164.2亿千瓦时、同比增长50.3%；互联网数据服务用电量99.1亿千瓦时、同比增长40.1%；信息传输、软件和信息技术服务业用电量210.3亿千瓦时、同比增长15.8%。7月当月，互联网数据服务和充换电服务业用电量增量合计超过第三产业用电增量比重的80%。 吴立强表示，受去年同期华北黄淮区域极端高温导致的居民生活用电增速高基数影响，今年7月城乡居民生活用电增速较上年同期下降23.1个百分点，对全社会用电量增量带来较大拖累。
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