In the first half of this year, China's export performance surpassed expectations, with private enterprises emerging as the primary driver of export growth. During the initial five months, exports surged by 7.0% year-on-year, accounting for 64.2% of total exports. Amidst a complex international landscape, while Sino-US trade suffered due to tariffs, exports to regions like ASEAN and the European Union witnessed robust growth. Concurrently, high-tech products and high-end equipment experienced notable export expansion. These positive developments collectively underpinned the resilient growth of China's industrial sector, with industrial added value of enterprises above a specified size rebounding to 6.8% in June.

However, experts cautioned that the current export recovery is partly attributable to short-term factors, including enterprises and merchants expediting exports and re-exports. Looking ahead, uncertainties persist, such as ongoing Sino-US economic and trade frictions and sluggish global demand. Furthermore, economic operations are characterized by a supply surplus relative to demand, with insufficient domestic demand emerging as a pressing issue. Therefore, experts recommend that in the second half of the year, the focus should shift to expanding domestic demand, stimulating consumption, deepening supply-side reforms, and refining the implementation of macroeconomic policies to safeguard employment and enhance people's livelihoods.