Shenzhen's H1 trade reaches 2.17 trillion yuan, 9.9% of China's total; imports hit record

Overview

On July 22, 2025, Shenzhen Customs released the city's foreign trade figures for the first half of the year. Total imports and exports reached 2.17 trillion yuan, accounting for 9.9% of China's total. Exports were 1.31 trillion yuan, while imports were 858.86 billion yuan, up 9.5% year on year and a record for the period. Shenzhen ranked first among mainland Chinese cities for both total trade and exports.

Background

According to data released by the General Administration of Customs on July 14, China's total goods trade in the first half was 21.79 trillion yuan, up 2.9%. Although Shenzhen occupies only a tiny fraction of China's land area, it handles about one-tenth of the country's foreign trade. In 2024, the city's trade reached about 4.5 trillion yuan, reclaiming first place among mainland cities, and its exports have led all Chinese cities for 32 consecutive years. A manufacturing cluster centered on electronics and information technology, port infrastructure such as Yantian, and a large concentration of cross-border e-commerce companies underpin Shenzhen's trade.

Key Points

• Products: Mechanical and electrical exports totaled 980.29 billion yuan, up 3.5%, or 74.9% of exports. Within this, computers and parts were 153.41 billion yuan (up 14.6%), batteries 38.28 billion yuan (up 39.5%) and audio-visual equipment and parts 42.3 billion yuan (up 4.6%). Mechanical and electrical imports were 709.08 billion yuan, up 17.1%, or 82.6% of imports.
• Types of enterprise: Private enterprises accounted for 1.51 trillion yuan, or 69.8% of trade. Foreign-invested enterprises traded 563.06 billion yuan, up 9%, about 26% of the total, and state-owned enterprises 89.14 billion yuan.
• Trade modes: General trade made up 54.8% of the total. Bonded logistics trade was 585.44 billion yuan, up 15.1% (about 27%), and processing trade 381.54 billion yuan, roughly flat (17.6%).
• Partners: The top three were ASEAN (358.27 billion yuan), Hong Kong (340.04 billion yuan, up 7.2%) and Taiwan (252.11 billion yuan, up 33%). Trade with the EU was 218.29 billion yuan and with the United States 205.77 billion yuan. Trade with Belt and Road countries totaled 781.62 billion yuan, and with RCEP members other than ASEAN (Japan, South Korea, Australia and New Zealand) 603.03 billion yuan.

The release did not give a separate figure for trade with Japan. An article on the Shenzhen government portal cited, as an example of local firms going global, AR glasses maker RayNeo, which holds the top market share on Amazon in the United States, Canada and Japan.

Implications for Japan–Shenzhen Exchange

Record imports and strong growth in mechanical and electrical imports appear to reflect robust demand from Shenzhen manufacturers for overseas components and materials. This is a trend of interest to Japanese companies that do business with Shenzhen in electronic components, materials and manufacturing equipment. The 9% growth in trade by foreign-invested enterprises is also drawing attention to the role of foreign companies, including Japanese firms operating in Shenzhen.

On the Shenzhen side, exports of batteries and computer-related products are growing, and products such as AR glasses are gaining visibility in the Japanese market. Two-way trade between Japan and Shenzhen, in both the supply of components and the sale of finished products, may continue to expand, and the complementary relationship between companies in the two places in the supply chain merits continued attention.

Outlook

Shenzhen Customs did not provide a forecast for the second half. With the international trade environment continuing to change, the city's full-year performance will become clear only as further statistics are released.

From the Association

The Association will continue to follow trade and industrial developments in Shenzhen and to share relevant information with members. We remain committed to providing opportunities that support exchange and mutual understanding between companies in Japan and Shenzhen.