China's exports surged to a record high in 2024, providing a much-needed boost for the economy as the prospect of biting tariffs imposed by US President-elect Donald Trump looms.

Trump, set to return to the White House next week, has proposed hefty tariffs on Chinese goods, sparking fears of a renewed trade war between the two superpowers.

Total exports in 2024 exceeded 25 trillion yuan for the first time, reaching 25.45 trillion yuan (US$3.47 trillion), a year-on-year increase of 7.1 percent", according to state media.

Imports rose 2.3 percent to 18.39 trillion yuan, state media said, adding that combined trade swelled five percent to reach a record 43.85 trillion yuan.

With exports outpacing imports, China's trade surplus grew to US$104.84 billion.

At a government press conference in Beijing on Monday, General Administration of Customs deputy head Wang Lingjun said that China's foreign trade growth in 2024 was relatively fast among major economies in the world.

"China has become a major trading partner of more than 150 countries and regions, and the country's circle of friends in foreign trade is getting larger," Wang said.

The official said that the structure of import and export products had also been continuously optimised and upgraded last year, with high-tech products reporting good growth numbers and a boom in new types of trade such as cross-border e-commerce.

China's exports are likely to remain strong in the near-term, said Huang Zichun of Capital Economics, as businesses try to “front-run” potentially higher tariffs.

“Outbound shipments are likely to stay resilient in the near-term, supported by further gains in global market share thanks to a weak real effective exchange rate," she wrote in a note.

But exports will likely weaken later in the year if Trump follows through on his threat to impose tariffs, Huang said. (Xinhua/Agencies)