With China poised for record trade surplus, former Chongqing mayor calls for action

China needs a coordinated policy package of currency appreciation, tariff cuts and elevated labour benefits to rebalance its massive trade surplus, outspoken former Chongqing mayor Huang Qifan said on Tuesday. Speaking at this year’s Tsinghua PBCSF Global Finance Forum in Chengdu, the capital of the southwestern province of Sichuan, Huang described China’s 2025 record-breaking US$1.2 trillion merchandise trade surplus as “shocking”. That momentum has shown no signs of slowing. China’s goods...

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