Today, the National Economic Operation Data for May released by the National Bureau of Statistics showed that my country’s total import and export of goods in May was 4,451.6 billion yuan, a year-on-year increase of 16.9%; the total import and export of goods from January to May was 20,682.7 billion yuan, a year-on-year increase of 15.3%, both achieving double-digit growth.
Wang Guanhua, spokesperson of the National Bureau of Statistics and deputy director of the National Economic Comprehensive Statistics Department, said when interpreting my country’s foreign trade data that against the background of weak global economic growth and complex and turbulent geopolitical situations, my country’s foreign trade has maintained a development trend of increasing volume and quality.
In terms of scale, both imports and exports have achieved rapid growth.
According to customs statistics, the total import and export of goods in May was 4.45 trillion yuan, exceeding 4 trillion yuan for three consecutive months, a year-on-year increase of 16.9%.
Efforts have been made to stabilize exports and expand imports at the same time. In May, exports increased by 13.8% and imports increased by 21.5%. Imports grew faster than exports. The growth rate of imports of integrated circuits, iron ore and concentrates and other commodities has accelerated. China’s large market provides new development opportunities for countries around the world.
From a market perspective, the diversified layout has been further consolidated and expanded.
The resilience of foreign trade cannot be separated from stable and diversified market support.
Under the guidance of a high-level opening strategy, my country has actively deepened practical cooperation with global economic and trade partners. From January to May, my country’s import and export volume with ASEAN, the EU, and Africa achieved double-digit growth, and its import and export volume with countries co-building the “Belt and Road” increased by 13.6%, accounting for more than half of the total import and export volume.
In April, my country’s imports and exports to the United States turned from falling to rising year-on-year, and continued to maintain growth in May.
From a product perspective, high-tech and high value-added products have become the main force in export growth.
From January to May this year, the export of mechanical and electrical products increased by 18.4% year-on-year, accounting for over 60%; the export performance of artificial intelligence-related products such as integrated circuits and computer parts was outstanding.
At the same time, my country’s export advantages of green and low-carbon products have been further highlighted, with exports of lithium batteries and wind turbines increasing by about 40%.
The optimization of export structure is supported by strong manufacturing strength, which reflects the leap in my country’s advanced manufacturing level.
From the perspective of enterprises, all types of business entities have achieved growth.
Private enterprises have the advantages of flexible business models, diversified market layout, and strong innovation capabilities. They have become my country’s largest foreign trade business entity for many consecutive years.
From January to May this year, the import and export of my country’s private enterprises increased by 15.5%, accounting for 57.1% of the total foreign trade value in the same period, the import and export of foreign-invested enterprises increased by 15.7%, and the import and export of state-owned enterprises increased by 14%, all achieved rapid growth.
Wang Guanhua introduced that the stable growth of China’s foreign trade benefits from many positive factors.
First of all, thanks to my country’s solid industrial foundation and complete industrial chain supporting facilities, the supply of high-quality and innovative products is constantly increasing, which can accurately adapt to the production and consumption needs of different fields and levels around the world, and also conform to the global trend of intelligent and green transformation.
Secondly, thanks to my country’s unswerving expansion of high-level opening up to the outside world, economic and trade cooperation with countries around the world on the basis of mutual benefit and win-win results, and high-quality joint construction of the “Belt and Road”, the foreign trade “circle of friends” is growing day by day.
Third, it also benefits from the vast number of foreign trade entities seeking innovation and change, being tenacious and progressive, and benefiting from the continued effectiveness of a series of policies to stabilize foreign trade.
She emphasized that in the next stage, there will still be many external uncertainties and unpredictable factors, and the stable growth of foreign trade will still face certain pressure.
However, the favorable conditions supporting the development of foreign trade have not changed, and the resilience, vitality, and competitiveness of foreign trade remain an important foundation and advantage for my country to expand international cooperation.
