China-Central Asia Trade Surpasses $100 Billion: In-Depth Analysis of A-Share Cross-Border E-Commerce and Belt and Road Investment Opportunities

Based on the latest trade data and market analysis, I will systematically sort out the investment opportunities brought by the breakthrough of China-Central Asia trade exceeding $100 billion.

---

According to the latest data released by the Ministry of Commerce and the General Administration of Customs, the total value of China-Central Asia imports and exports reached

in 2025, a year-on-year increase of 12%, with the growth rate 6 percentage points higher than the previous year. This is the first time in history that the scale has exceeded $100 billion [1][2]. From a more macro perspective, China has become the largest trading partner of Central Asian countries for the first time, and the proportion of Central Asia in China’s foreign trade has further risen to [1].

This milestone breakthrough marks that China-Central Asia economic and trade cooperation has entered a new stage of development. From $50.1 billion in 2021 to $106.3 billion in 2025, the

, demonstrating strong growth momentum [1].

Notably, the structure of China’s exports to Central Asia shows a significant trend toward new and high-quality products:

Export Product Category	Growth Trend	Market Position
Mechanical and Electrical Products	Strong Growth	Main Export Category
High-Tech Products	Rapid Growth	Rising Proportion
“New Three” (New Energy)	Steadily Expanding Market Share	Emerging Growth Driver
Chemicals, Steel, Agricultural Products	Increasingly Rich Variety	Highlight on the Import Side

Customs data shows that in 2025, China’s imports and exports with Belt and Road co-construction countries reached

, an increase of 6.3%, and its proportion in China’s total foreign trade further rose to [2][3]. This means that the markets along the Belt and Road have become a “half of the country” for China’s foreign trade, and as a key hub connecting China with Europe and the Middle East, the strategic value of Central Asia has become increasingly prominent.

---

In 2025, the scale of China’s cross-border e-commerce imports and exports reached

, a 69.7% increase compared to 2020 [4][5]. Cross-border e-commerce has grown from a “new business format” to a core supporting force for foreign trade, and its growth rate has outperformed the overall foreign trade growth rate for consecutive years.

1. Continuous Release of Policy Dividends
   • As of 2025, China has established
     165 cross-border e-commerce comprehensive pilot zones
   • General Administration of Customs Announcement No. 167 of 2024 further promotes the development of cross-border e-commerce exports
   • 25 cross-border trade facilitation measures were rolled out nationwide in January 2026 [5]
   • Supporting policies such as optimized export tax rebates and support for overseas warehouse construction are becoming increasingly refined

2. Continuous Expansion of Market Space
   • The growth rate of China’s trade with Belt and Road countries reached 6.3%, higher than the overall foreign trade growth rate
   • ASEAN has been China’s largest export market for 3 consecutive years
   • Export growth rates in emerging markets such as Latin America, the Middle East, Central Asia, and Africa are all faster than the overall rate [3]

Sub-Sector	Core Targets	Investment Logic
Cross-Border B2B Platforms	China Commodity City (600415), Focus Technology (002315)	Platform-based models benefit from expanded trade scale
Cross-Border B2C Brands	Anker Innovations (300866), Zhitech (301356)	Leading global-facing brands with strong profitability
Comprehensive Service Providers	Cross-Border E-Commerce (002127), Eterna (002183)	Outstanding supply chain integration capabilities and well-established warehousing and logistics networks [6]
Cross-Border Logistics	Debon Logistics (603056), China Storage (600787)	Warehousing and logistics networks are infrastructure for cross-border e-commerce

From a financial data perspective, as a leading supply chain service provider, Eterna (002183.SZ) has a latest closing price of

, a market capitalization of , and a year-on-year increase of , with relatively active performance recently [6]. As an established cross-border e-commerce enterprise, Cross-Border E-Commerce (002127.SZ) has faced performance pressure in recent years, but the recovery of industry prosperity is expected to drive improvement in its fundamentals.

1. Leading Platform Enterprises
   : With scale advantages and technical barriers, leading players will grow stronger amid the trends of compliance and branding
2. Brands Going Global
   : Enterprises with independent brands and overseas channels enjoy higher valuation premiums
3. Warehousing and Logistics Support
   : The rapid development of cross-border e-commerce directly drives demand for warehousing and logistics
4. Cross-Border Payment and Settlement
   : Expanded trade scale drives cross-border payment demand, benefiting fintech enterprises

---

In 2025, China’s exports to Belt and Road co-construction countries via foreign contracted projects reached

, an increase of 45.7% [2][3]. Green infrastructure construction has achieved remarkable results, with exports of wind turbine generators increasing by , becoming a new export highlight.

, a significant 40% increase compared to the 14th Five-Year Plan period, with key investment in areas such as UHV and digital intelligence [7]. This brings huge market space for enterprises related to power equipment and power grid construction.

Industry Sector	Beneficiary Logic	Related Targets
Transportation Infrastructure	Strong demand for highway, railway, and port construction	China Communications Construction (CCCC), China Railway Construction, China Railway Group
Power Equipment	Record-high power grid investment and growing overseas orders	NARI Technology, Pinggao Electric
Communication Equipment	Construction of the “Digital Silk Road”	ZTE, FiberHome Communications
Engineering Machinery	Overseas projects drive equipment exports	Sany Heavy Industry, Zoomlion Heavy Industry
Steel and Building Materials	Raw material demand for infrastructure projects	Baosteel Co., Ltd., Conch Cement

1. “Hard Connectivity” Drives Trade Facilitation
   : With the in-depth coordinated development of the Silk Road Maritime, cross-border highways and railways, and the Air Silk Road, reduced logistics costs will further promote trade growth [2]
2. Accelerated Implementation of Major Projects
   : Major projects in areas such as connectivity, equipment manufacturing, green minerals, and modern agriculture are being accelerated
3. Green Transformation Opportunities
   : Strong exports of new energy equipment such as wind power and photovoltaic equipment, and the construction of the “Green Silk Road” bring new growth points

---

Risk Type	Specific Performance	Response Strategy
Geopolitical Risk	Changes in the political situation in Central Asia	Focus on enterprises with central enterprise backgrounds, which have strong risk resistance capabilities
Exchange Rate Fluctuation Risk	Cross-border trade involves multi-currency settlement	Focus on targets with exchange rate hedging capabilities
Policy Change Risk	Adjustments to trade policies and tariffs	Diversify investments and focus on industries with high policy support certainty
Market Competition Risk	Intensified competition in cross-border e-commerce	Prioritize leading enterprises with brand and channel advantages
Operational Risk	Insufficient overseas operation experience	Focus on mature enterprises with a high degree of internationalization

Allocation Ratio	Investment Direction	Representative Targets
40%	Cross-Border E-Commerce Leaders	Anker Innovations, Eterna
30%	Belt and Road Infrastructure	China Communications Construction, NARI Technology
20%	Warehousing and Logistics Support	China Storage, Debon Logistics
10%	Cash/Defensive Position	Flexible Allocation

---

The chart shows:

1. China-Central Asia Trade Volume Growth Trend
   : Surpassed $100 billion for the first time in 2025
2. Export Product Structure
   : Mechanical and electrical products and high-tech products dominate, with the “New Three” rising rapidly
3. Investment Attractiveness Score of Beneficiary Industries
   : Cross-border e-commerce and infrastructure projects have the highest scores
4. Investment Opportunity Timeline
   : Currently in the optimal layout period of the second phase (2025-2026)
5. Policy Support Strength
   : Strong support from policies such as the 25 cross-border trade facilitation measures
6. Risk-Return Comparison
   : Cross-border e-commerce leaders have both high expected returns and high risks

---

1. Clear Strategic Opportunities
   : The breakthrough of China-Central Asia trade exceeding $100 billion is an important milestone of China’s Belt and Road Initiative, bringing definite growth space for related enterprises
2. Investment Window Period Arrives
   : 2025-2026 is the golden period for cross-border e-commerce and Belt and Road investment, with dual benefits from policy dividends and expanded trade scale
3. Prominent Structural Opportunities
   : The three tracks of cross-border e-commerce, warehousing and logistics, and infrastructure projects benefit the most, and it is recommended to focus on them
4. Risks Are Controllable and Preventable
   : Geopolitical and exchange rate fluctuation risks can be effectively controlled through diversified allocation and selection of leading enterprises

Looking ahead, with the:

• Continuous implementation of the outcomes of the China-Central Asia Summit
• Further expansion of cross-border e-commerce comprehensive pilot zones
• Deepening of the “Silk Road E-Commerce” cooperation mechanism
• Promotion and application of the Cross-Border Interbank Payment System (CIPS) in Central Asia

Related enterprises are expected to continue to benefit from this historic opportunity. It is recommended that investors seize the current low valuation level and actively deploy core targets in cross-border e-commerce and the Belt and Road Initiative.

---

[1] CCTV.com - “2025 China-Central Asia Import and Export Value Exceeds $100 Billion for the First Time in History” (https://news.cctv.cn/2026/01/18/ARTIE8lPwqp43XU8y8vl3ncr260118.shtml)
[2] General Administration of Customs - “2025 Full-Year Import and Export Press Conference” (http://www.customs.gov.cn/customs/xwfb34/302330/hgzs2025nqsjdjckqkxwfbh/index.html)
[3] Securities Times - “45.47 Trillion Yuan! China’s Foreign Trade Scale Hits a New High” (https://www.stcn.com/article/detail/3594191.html)
[4] IngStart - “China’s 2025 Cross-Border E-Commerce Imports and Exports Reach 2.75 Trillion Yuan” (https://www.ingstart.com/blog/39939.html)
[5] Securities Times - “Multiple Regions Promote Cross-Border E-Commerce Industrial Upgrading” (https://finance.sina.com.cn/jjxw/2026-01-16/doc-inhhmxrf5751165.shtml)
[6] Jinling API Data - Company Profile and Trading Data of Eterna (002183.SZ)
[7] 21st Century Business Herald - “Central Bank: There is Still Room for RRR Cuts and Interest Rate Cuts” (https://www.21jingji.com/article/20260116/herald/b1aad91d61040173b4da828386116558.html)