China Defends Its Exports We Respond to Demand Not Dominate Markets
BEIJING, July 20 — In the face of growing international scrutiny, China is making it clear: it’s not trying to take over the world’s markets — it’s simply meeting demand.
Speaking during the G-20 finance ministers’ meeting near Durban, South Africa, Vice Finance Minister Liao Min responded calmly but firmly to concerns about China’s trade practices. He reassured global leaders that China’s vast exports are not part of a grand plan to flood international markets, but rather a natural response to what the world needs.
“We’re not out to dominate,” Liao said. “The majority of what China produces is for its own people. Our exports are driven by global demand — nothing more, nothing less.”
Backing his words with numbers, Liao pointed to China’s strong economic footing. In the first half of 2025, China posted a 5.3% economic growth, offering a rare beacon of stability in today’s volatile global economy. More importantly, this growth wasn’t just export-driven. A whopping 86.4% of the growth came from domestic demand, showing how China is shifting toward a consumption-led model.
In real terms, that means Chinese households and businesses are buying more — and the government is actively encouraging this with targeted stimulus, including 300 billion yuan in sovereign bonds to boost purchases of electronics, appliances, and vehicles.
Yes, China’s exports are up — with a goods-trade surplus of US$586 billion in the first half of 2025. But Liao attributes this partly to exporters speeding up shipments ahead of anticipated U.S. tariffs, not a deliberate attempt to outpace competitors.
And even if China ends the year with a record-breaking surplus, possibly over US$1 trillion, Liao maintains this is not cause for alarm. “Our current-account surplus last year was just 2.2% — a globally acceptable level,” he emphasized, pushing back on claims from U.S. officials that China is using trade to escape its domestic property woes.
To critics pointing at China’s dominance in certain industries, Liao offered a more nuanced take. “Having a large market share doesn’t mean we’re distorting the market. That’s too simplistic.”
Liao closed his remarks by standing firmly for global cooperation. “We believe in multilateralism. The joint communique by the G-20 shows the world still wants to work together — even when tensions are high.”
As global leaders continue to navigate complex economic tides, China is positioning itself not as a threat, but as a steady partner, committed to stability, demand-driven trade, and mutual growth.