NZ-China Economic & Trade Relations in the First Half of 2026: Surpassing NZ$40 Billion, Cooperation Pivots Towards Green and Digital

In the first half of 2026, against a backdrop of heightened global trade uncertainty, the economic and trade relationship between New Zealand and China maintained strong growth momentum. Bilateral trade is now approaching NZ$43 billion, with cooperation rapidly expanding from traditional agricultural exports into green development, the digital economy, and services trade — demonstrating extraordinary resilience and vitality.

Trade Volumes Reach New Heights as China Marks 13 Consecutive Years as NZ's Largest Trading Partner

According to Chinese customs statistics, bilateral goods trade between China and New Zealand reached US$5.31 billion in the first quarter of 2026, up 1.1% year-on-year. Chinese exports to New Zealand grew 14% to US$1.998 billion, while imports from New Zealand stood at US$3.311 billion. New Zealand maintained its trade surplus with China. From 2013 through 2025, China was New Zealand's largest trading partner for 13 consecutive years — a trend that continued into Q1 2026. In the twelve months to June 2025, bilateral trade surpassed NZ$40 billion for the first time, setting a historic record. New Zealand Minister for Trade and Investment Todd McClay projects full-year bilateral trade of NZ$43 billion in 2026, with an ambition to reach NZ$50 billion within the next five to six years.

New Zealand's premium products — dairy, meat, and fresh fruit — continue to enjoy strong demand among Chinese consumers. In the first three quarters of 2025, New Zealand dairy exports to China grew 27.6% and fruit exports grew 38.8%. Export growth from the South Island was particularly notable, with Christchurch Airport cargo data showing a 31% year-on-year increase in exports to China during the 2025–26 summer season.

FTA Upgrade Dividends Continue to Flow, Services Trade Negotiations Enter Deeper Waters

Since the upgraded New Zealand–China Free Trade Agreement Protocol entered into force on 7 April 2022, the benefits of institutionalised market opening have continued to materialise. In goods trade, New Zealand dairy exports to China have been fully tariff-free and quota-free since 1 January 2024; approximately 99% of New Zealand timber exports to China now enjoy zero tariffs; perishable goods with complete documentation can clear customs within six hours, significantly reducing spoilage and logistics costs; and a new e-commerce chapter has built a digital trade bridge for small and medium-sized enterprises in both countries. In the first half of 2026, these structural benefits have deepened their transmission across industry supply chains, further advancing bilateral trade facilitation.

In services trade, China opened 22 entirely new service sectors to New Zealand for the first time — including environmental services, air transport, and airport operations — and improved market access in 17 existing areas such as real estate, translation, and education. In March 2025, both sides launched the first round of services trade negotiations based on a negative list approach. In May 2026, Commerce Minister Wang Wentao, meeting with McClay in Suzhou, expressed determination to achieve substantive progress in those negotiations before year-end. New Zealand companies in soil remediation, water resource management, and low-carbon agriculture have already entered the Chinese market at scale, contributing to China's "Beautiful China" initiative.

APEC China Year Advances Regional Cooperation, Supply Chain Security Emerges as Key Agenda Item

2026 is the APEC China Year. In May, the APEC Ministers Responsible for Trade Meeting was held in Suzhou, issuing the 2026 APEC Ministers Responsible for Trade Meeting Suzhou Joint Statement. On the sidelines, Wang Wentao and McClay held in-depth exchanges on the NZ–China economic relationship and cooperation within regional and multilateral frameworks. McClay repeatedly emphasised the words "commitment," "rules," and "certainty," noting that the NZ–China FTA is forward-looking in its design and provides an institutional guarantee for maintaining open and unobstructed supply chains. New Zealand will continue to champion an open, stable, and predictable global supply chain system.

Green Cooperation and New Energy Emerge as New Growth Poles

In the first half of the year, New Zealand and China held their first-ever New Energy Vehicle Dialogue. Driven by fuel price volatility stemming from Middle East tensions, electric vehicles are becoming the preferred choice of a growing number of New Zealand consumers — and Chinese EVs are the most favoured in the market. China remains New Zealand's largest electric vehicle supplier, supporting the country's transport decarbonisation. Meanwhile, New Zealand's low-methane livestock technology is benefiting Chinese agriculture in return, and a large-scale solar project in Christchurch utilising approximately 300,000 high-efficiency Chinese solar panels has become one of New Zealand's largest solar installations. Cooperation between the two countries in green technology is moving from consensus to tangible trade flows.

People-to-People Ties Warm Rapidly, Air Links Continue to Strengthen

The recovery of tourism and aviation capacity has injected a human dimension into economic and trade cooperation. In March 2026, the strategic alliance between Air New Zealand and Air China was approved for renewal through to 2031. Since its formation in 2015, the alliance has transported more than 480,000 passengers to New Zealand, contributing approximately NZ$3 billion to the New Zealand economy. During the Lunar New Year peak, the two airlines together offered up to 17 direct return services per week between the two countries, with total capacity having recovered to 110% of 2019 levels.

The tourism rebound in the South Island was particularly striking. From November 2025 to March 2026, Christchurch Airport welcomed 38,400 Chinese visitors — a year-on-year increase of more than 100% — contributing NZ$861 million to the South Island economy. New Zealand Minister for Tourism and Hospitality Louise Upston noted that Chinese visitors spend an average of NZ$5,800 per trip, making China one of New Zealand's most important tourism markets.

Outlook: Towards the Next NZ$40 Billion Milestone

In the first half of 2026, New Zealand–China economic and trade relations have demonstrated stable resilience in navigating global volatility, anchored by the "triple lock" of RCEP, the upgraded FTA, and the Digital Economy Partnership Agreement (DEPA). From New Zealand orchards to Chinese dining tables, and from Chinese solar panels to New Zealand solar farms, bilateral trade cooperation is evolving from "complementarity and mutual benefit" towards deeper-level synergies of "going green and going digital." As McClay put it: "When parties make commitments in trade and actually follow through on those commitments, economies can grow together." Grounded in a spirit of openness and cooperation, the next milestone in NZ–China economic relations is well within reach.

About NZ–China Economic & Trade Relations: Since China and New Zealand signed China's first free trade agreement with a developed country in 2008, bilateral economic and trade cooperation has deepened continuously. From 2013 through 2025, China maintained its position as New Zealand's largest trading partner and largest export market for 13 consecutive years. The relationship now spans goods trade, services trade, investment, the digital economy, and green development.

Data Sources

All data and information cited in this article are listed below in order of appearance.

I. Trade Scale & Data

II. FTA Upgrade

III. APEC & Regional Cooperation

IV. Green Cooperation & New Energy

V. People-to-People Ties & Tourism

VI. Key Source Articles

1. Huajing Industry Research Institute, China–New Zealand Bilateral Trade Value and Trade Balance Statistics, March 2026, April 2026
2. Consul-General He Ying, NZ$40 Billion Milestone: Bright Prospects for China–NZ Economic and Trade Cooperation, published in the New Zealand Star, 12 March 2026
3. 21st Century Business Herald, Exclusive Interview with NZ Trade & Investment Minister Todd McClay: NZ–China Economic Relations Deepened Through Regional Trade and Open Cooperation, 2 June 2026
4. MOFCOM Press Office, Minister Wang Wentao Meets New Zealand Trade Minister McClay, 23 May 2026
5. Cailianshe / CCTV News, Upgraded NZ–China FTA Protocol Enters Into Force Today, 7 April 2022
6. New Zealand Chinese Herald, Decade of Contribution: NZ$3 Billion and Counting — Air NZ–Air China Alliance Renewed to 2031, 29 March 2026
7. New Zealand Chinese Herald, Christchurch Airport Has a Busy Summer: Chinese Visitor Numbers Surge 103%!, 12 April 2026
8. China FTA Service Network, Deep Restructuring of China–Australia–New Zealand Supply Chains, March 2026
9. Chinese Embassy in New Zealand, Statement on Full Implementation of NZ–China Free Trade Agreement, 10 January 2024
10. Chinese Ministry of Finance, Upgraded NZ–China FTA Protocol to Enter Into Force on 7 April 2022, 3 April 2022