Shenzhen's Jan-Sep trade hits 4.65 trillion yuan, up 38.8%; trade with Japan up 72.3%

Overview

At a press conference held by the Information Office of the Guangdong Provincial Government on October 19, 2026, Shenzhen Customs released the city's trade figures for the first three quarters of the year. Shenzhen's total imports and exports reached 4.65 trillion yuan, up 38.8% year on year and equal to 11.6% of China's total trade over the same period. The figure already exceeds the city's full-year total for 2025, is a record for the period, and keeps Shenzhen in first place among mainland Chinese cities.

Exports amounted to 2.41 trillion yuan, up 18.5%, while imports reached 2.24 trillion yuan, up 70.1%. In September alone, trade totalled 663.48 billion yuan, up 65.2%. According to Shenzhen News Network, trade with Japan grew strongly, rising 72.3%.

Background

Shenzhen is a major production and distribution hub for electronics and components and has long had the largest trade volume of any mainland city. In 2026, amid rising global investment in artificial intelligence, trade in components such as integrated circuits has surged. Shenzhen Customs said trade in AI-related parts such as integrated circuits was the largest in the country and accounted for more than 60% of the city's trade growth.

With APEC-related meetings scheduled to take place in Shenzhen in November 2026, the city's economic ties with the APEC region are also attracting interest. Shenzhen's trade with other APEC economies in the first nine months reached 3.23 trillion yuan, up 40% and a record high.

Key Points

Item	Value	Year on year
Total trade	4.65 trillion yuan	+38.8%
Exports	2.41 trillion yuan	+18.5%
Imports	2.24 trillion yuan	+70.1%
General trade	2.33 trillion yuan	+28.8%
Bonded logistics	1.45 trillion yuan	+62.8%
Private enterprises	3.46 trillion yuan	+49.9%
Foreign-invested enterprises	1.14 trillion yuan	+22.8%

• Trading partners: Hong Kong (+67.8%), ASEAN (+31.1%) and Taiwan (+23.1%) were the top three partners, together accounting for 44.9% of the total. Trade with the EU rose 14.6% and with the United States 19.3%, while trade with Japan rose 72.3% and with other RCEP members 41.7%.
• Exports: mechanical and electrical products totalled 1.87 trillion yuan, up 21.4% and 77.7% of all exports. Electronic components rose 47.7% to 390 billion yuan, and the "new three" products (EVs, lithium batteries and solar products) rose 25% to 107.3 billion yuan.
• Imports: integrated circuits rose 62.2% to 959.45 billion yuan, and computer parts jumped 135% to 523.91 billion yuan.
• Businesses: more than 70,000 companies recorded import or export activity.

Implications for Japan-Shenzhen Exchange

Trade with Japan growing far faster than the overall total appears to reflect closer links between areas where Japanese companies are strong, such as semiconductor manufacturing equipment, electronic components and materials, and Shenzhen's electronics and AI-related industries. Trade by foreign-invested enterprises also grew by more than 20%, a figure that is drawing attention when considering the business environment for Japanese companies operating in Shenzhen.

At the same time, much of the growth is concentrated in specific AI-related components, which some observers note may leave it exposed to swings in demand. Keeping track of supply-chain developments is likely to become increasingly important for companies in both Japan and Shenzhen.

Outlook

Fourth-quarter trends and full-year 2026 results will be released by Shenzhen Customs in due course. There is also interest in whether concrete measures for trade and investment cooperation with Asia-Pacific economies will emerge around the APEC-related meetings in November, although no new measures specifically concerning trade with Japan have been announced so far.

From the Association

The Association will continue to monitor Shenzhen's trade and economic performance and trends in economic exchange with Japan. We will keep working to provide useful opportunities for information exchange among our members and other stakeholders in Japan and Shenzhen.