<h1>China's 2025 trade surplus hits about USD 1.2 trillion, boosting current-account surplus and prompting calls for rebalancing</h1> China reported a trade balance surplus of approximately USD 1.2 trillion for 2025, constituting a 20% year-on-year increase from USD 992 billion, with exports totaling USD 3.77 trillion and imports USD 2.58 trillion; the operative effect is a materially larger current-account surplus for 2025. Exports rose 6.6% year-on-year in December and imports 5.7%, improving on November figures; the operative effect is stronger monthly external demand contributing to aggregate growth. The persistent export strength has sustained annual GDP growth near the official ~5% target, while the operative effect includes international concern about import competition and public calls (including from the IMF) for policy rebalancing toward domestic demand.