China's foreign trade volume hit a record 25.83 trillion yuan ($4.16 trillion) last year, according to figures from the General Administration of Customs. With this number, China may have displaced the US as the country with the largest foreign trade portfolio.

We shouldn't get too comfortable with this development. The higher-than-expected export volumes seen over recent months could be temporary. It is also likely that the dazzling figure was boosted by hot money inflows disguised as trade in order to take advantage of the strengthening yuan. At the same time, China's export products are still mostly low value-added goods. Service trade remains underdeveloped, accounting for only one-eighth of trade volume last year.

Large export and import volumes alone cannot turn a country into a top trading power. To truly accomplish this feat, China needs to build brands and enterprises with global influence, and master core technology. Obviously, the country still has a long way to go.

The author is Sun Shaohua, a media personality.

Economic Information Daily