Wholly or partly foreign-owned companies in the country accounted for $980bn of China’s exports last year, or more than one-quarter, and $820bn of imports, or more than a third, data from China’s General Administration of Customs and calculations by the Financial Times showed. China registered a record trade surplus of nearly $1tn last year.

Beijing is going on an international charm campaign to coax other countries hit hard by “Liberation Day” tariffs to take on the U.S.