Where Chinese Exports Are Gaining the Most Market Share

Chinese exports are surging worldwide—and particularly in emerging markets, says Trina Chen, co-head of Greater China Equity Research. In the Goldman Sachs Exchanges podcast, Chen also explains which sectors face the biggest challenge from growing Chinese competition.

Key takeaways:

In emerging markets, revenue growth for Chinese companies may be increasing 15-times that of the local market: Goldman Sachs Research’s analysis of more than 10 sectors across industries reveals Chinese product market share has probably reached 24% in emerging markets.

Chinese exports are not always cheaper: The perception that Chinese exports are gaining market share because they are cheaper may be true when they first enter the market, but prices in some cases rise over time. Improvements in product quality, for example, can close the price gap between the Chinese export and the local product.

Domestic stock prices tend to respond rapidly when companies lose market share: Market capitalization can shrink by 50% or more when Chinese competition causes a company’s revenue to fall 10%-15%.

Date of recording: October 7, 2026

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