China’s imports soared 19.8% yoy to USD 442.96 billion in the first two months of 2026, far above market expectations of 6.3% and after a 5.7% increase in the previous month. It was the strongest pace of import growth since early 2022, reflecting resilient domestic demand during the festive season. Purchases grew from Japan (26.5%), Hong Kong (322.9%), South Korea (35.8%), Taiwan (19.2%), Australia (35.8%), the ASEAN countries (12.9%), and the EU (11.7%), but fell from the U.S. (26.7%).
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