The article explores how exporting to different countries affects the productivity of Chinese firms. They found that when firms start exporting, their productivity may initially decrease due to higher costs. However, as they expand to more markets, their productivity increases because of learning and cost-saving benefits. This relationship is less pronounced for firms that export mostly intermediate products, engage in processing trade, or export to Hong Kong. These findings can help policymakers understand how export diversification impacts firm performance and guide policies to support firms in global markets.