Since the beginning of this year, China’s foreign trade has continued to show a steady and positive trend.
According to customs statistics, in the first five months of this year, the total import and export value of my country’s goods trade was 20.68 trillion yuan, a year-on-year increase of 15.3%.
In the month of May, the total import and export value of goods trade was 4.45 trillion yuan, a year-on-year increase of 16.9%. The monthly import and export scale has stably exceeded 4 trillion yuan for three consecutive months.
Currently, the global trade environment is complex and changeable, with frequent trade frictions and an overall slowdown in foreign demand. The foreign trade growth rate of many countries has weakened under pressure.
However, China’s foreign trade has been able to grow against the trend, showing the characteristics of rising total volume, optimized structure, and diversified markets, fully demonstrating its strong development resilience and ability to resist risks.
The continued improvement of China’s foreign trade is not driven by short-term factors, but has a deep foundation.
The solid confidence that foreign trade continues to operate at a high level comes from China’s solid economic fundamentals.
my country has established the world’s largest industrial system with the most complete categories and the most complete supporting facilities, covering the entire industrial chain from basic parts processing, mid-range complete equipment manufacturing to high-end intelligent manufacturing, forming an independent, controllable, collaborative and efficient supply chain system.
This enables foreign trade companies to accurately adapt to global diversified and differentiated market demands, quickly complete product iterations and upgrades, stably guarantee order delivery, and effectively hedge against the impact of fluctuations in the global supply chain.
At the same time, my country’s ultra-large-scale market has unleashed strong vitality and become a solid backing for the steady growth of foreign trade.
In the first five months, exports and imports of goods trade increased by 11.8% and 20.5% respectively year-on-year. The import growth rate was significantly higher than the export growth rate. Domestic production demand and consumption upgrade demand recovered strongly, providing a broad consumption scenario for global commodities.
An important driver of the continued optimization of the trade structure comes from the accelerated conversion of new and old driving forces in domestic industries.
From the perspective of trade commodity structure, new momentum of high-end, intelligent, and green industries has burst out, significantly increasing the “new” content of foreign trade imports and exports.
In the first five months, my country’s exports of mechanical and electrical products were 7.58 trillion yuan, a year-on-year increase of 18.4%, becoming a key pillar supporting export growth; imports of mechanical and electrical products were 3.54 trillion yuan, a year-on-year increase of 25.3%, effectively helping to strengthen the domestic industrial chain, empowering the cultivation of new productivity and the iterative upgrading of the industrial system.
From the perspective of trade mode structure, foreign trade formats are diversified and optimized, and the development foundation has become increasingly solid.
In the first five months, the import and export scale of general trade accounted for nearly 60%, which is still the basic foreign trade.
At the same time, processing trade and bonded logistics trade increased by 22.9% and 41.8% year-on-year respectively, and new business formats and models such as cross-border logistics and bonded trade burst out with vitality.
The outstanding results of the diversified layout of the foreign trade market benefit from my country’s continued deepening of global economic and trade cooperation.
In the first five months, my country’s trade with ASEAN and the EU continued to grow steadily, and trade with countries co-building the “Belt and Road” accounted for more than 50%. On May 1, my country fully implemented the “zero tariff” policy with African countries that have diplomatic relations. In the first five months, the scale of China-Africa trade exceeded 1 trillion yuan for the first time in history.
This kind of diversified market layout and pragmatic economic and trade cooperation not only develops itself, but also benefits the world.
At present, my country’s foreign economic and trade cooperation is moving towards the stage of joint construction of production capacity, technological exchange, and mutual benefit and empowerment, helping emerging markets such as Africa and Southeast Asia to improve local industrial systems and activate economic development vitality.
China’s foreign trade growth has a stable foundation, sufficient vitality and strong momentum.
In the future, as industrial upgrading continues to deepen, institutional opening up steadily advances, and the global economic and trade cooperation network continues to improve, China’s foreign trade will continue to consolidate the development trend of improving quality and efficiency, release new momentum while coordinating internal and external development, and continue to empower the high-quality development of the Chinese economy and the stability and prosperity of global economic and trade.
